India, Feb. 17 -- The Fairplay online platform encouraged users to deposit large amounts in their e-wallets by offering high cashback incentives, the Enforcement Directorate's (ED) money laundering probe has found. Funds were collected through payment gateways and credited to users' e-wallets for illegal online betting on cricket matches, elections and other events; a part of the proceeds were also likely diverted and later reinvested under the guise of legitimate business, agency sources said.

"We are probing if cryptocurrency wallets were used in addition to payment gateways to collect funds from users," an ED official told Hindustan Times.

The agency initiated the money laundering investigation against the Dubai-based Fairplay Sport ...