TechFlow reports, according to CoinDesk, that India's Central Bureau of Investigation (CBI) has appointed digital asset custodian Liminal to manage seized digital assets. Liminal has supported CBI operations by assembling a dedicated team, which created multi-signature and multiparty computation wallets to securely store the seized assets. Specific operational details have not been disclosed.
India has recently seen at least two major cryptocurrency scams: one valued at $300 million, resulting in the arrest of 18 individuals, and another valued at $120 million, leading to the arrest of at least two people.
Liminal raised $4.7 million in a seed funding round in mid-2022 from investors including venture capital firm Elevation Capital and angel investors such as Andreas Antonopoulos, Balaji Srinivasan, and Sandeep Nailwal. Liminal was founded by Mahin Gupta, who is also a co-founder of ZebPay, one of India’s earliest cryptocurrency exchanges.
