ED attaches $55.69 million in overseas accounts linked to Winzo

Gaming

• ED attaches $55.69 million in Winzo's US, Singapore accounts
• Winzo accused of making users play bots without disclosure
• Assets frozen in case total approximately Rs 1,194 crore

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Directorate of Enforcement (ED), Bengaluru zonal office, has provisionally attached $55.69 million (around Rs 505 crore) held in bank accounts in the US and Singapore in the names of Winzo’s overseas entities - Winzo US Inc and Winzo SG Pte. Ltd.

The accounts are allegedly controlled by Paavan Nanda and Saumya Singh Rathore.

The attachment follows search operations conducted on November 18, 2025, at the company’s office and director’s residence, and on December 30, 2025, at its accounting firm.

Also, read: ED freezes Rs 520-crore assets linked to real-money gaming firms WinZO and Gameskraft after probe

According to ED, its investigation found that users were made to play real-money games against bots, AI or algorithms (termed PPP/EP/Persona) without being informed they were not playing against human opponents. The agency also alleged that the company restricted or limited customer withdrawals from in-app wallets.

The ED said Winzo generated “proceeds of crime” in the form of rake commission from matches played between bots and real users, and by creating a restrictive withdrawal environment that allegedly induced users to continue playing. The agency estimates total proceeds of crime at Rs 3,522.05 crore between FY22 and FY26 (till August 22, 2025).

So far, movable properties worth around Rs 689 crore have been frozen in the case. The ED alleged that part of the proceeds was transferred abroad under the guise of overseas investments, though operations and bank account management were carried out from India.

A prosecution complaint was filed before the Special PMLA Court (CCH-1), Bengaluru, on January 23, 2026. With the latest attachment, the total proceeds of crime attached or frozen stand at around Rs 1,194 crore. Further investigation is on.

On November 18, Moneycontrol reported that ED had raided 11 locations linked to online gaming operators Gameskraft and WinZO including corporate offices of the companies and the residences of their top executives.

ED stated it initiated the investigation based on FIRs filed against WinZO on the grounds of cheating, blocking of accounts, impersonation, and misuse of PAN. The complainants also alleged that their KYC details were misused and that they suffered substantial losses due to "fraudulent activities" and "cheating" by WinZO and others.