The Enforcement Directorate (ED), in collaboration with the Gujarat Police, launched a series of raids across multiple states on Monday as part of a money-laundering investigation into the unauthorized streaming of the ICC Men’s T20 World Cup 2024 by a suspected betting website. The crackdown, which spanned several major cities including Delhi-NCR, Bengaluru, Lucknow, and Coimbatore, marks a significant escalation in the probe into the illegal broadcast of the high-profile cricket tournament.
The ED, India’s premier financial investigation agency, confirmed in a statement that 20 premises were searched in connection with the case against the “Magicwin” web portal. The site is accused of illegally streaming T20 World Cup matches, allegedly to facilitate online betting activities. The searches were conducted in coordination with the Ahmedabad Cyber Police Department, underscoring the seriousness of the allegations.
During the raids, authorities seized a range of incriminating materials, including digital devices and documents believed to be linked to the illegal operations. In addition, the ED reported the recovery of ₹30 lakh in cash and the freezing of nearly ₹2 crore. The investigation also led to the identification of several cryptocurrency wallets containing deposits worth approximately ₹12 crore. The ED has issued strict instructions to cryptocurrency exchanges, directing them not to liquidate these digital assets while the investigation is ongoing.
The operation represents a coordinated effort by law enforcement to crack down on unauthorized online activities that exploit the popularity of international sporting events like the ICC Men’s T20 World Cup. The illegal streaming of such events not only undermines the rights of legitimate broadcasters but also facilitates other unlawful activities, including online betting and money laundering.
The ED’s involvement highlights the financial dimension of the case, particularly in tracking and freezing assets that may have been acquired through illegal means. The agency’s focus on cryptocurrency wallets is particularly noteworthy, reflecting the growing use of digital currencies in illicit activities. By freezing these assets, the ED aims to prevent the perpetrators from profiting further while investigations continue.
The unauthorized streaming of the T20 World Cup has raised concerns about the broader implications for the sports industry and its digital rights. With the rise of online platforms and the increasing prevalence of illegal streaming, protecting intellectual property and ensuring fair competition have become more challenging. This case underscores the need for robust enforcement and collaboration between various law enforcement agencies to tackle the evolving threats posed by digital piracy and cybercrime.
As the investigation progresses, the ED and Gujarat Police are expected to delve deeper into the network behind the “Magicwin” portal, including identifying those responsible for the operation and tracing the flow of funds. The outcome of this probe could have far-reaching consequences, not only for the individuals involved but also for the broader efforts to combat illegal online activities in India.
The raids and subsequent discoveries serve as a stark reminder of the vigilance required to safeguard the integrity of both the financial system and the digital landscape. The ED’s swift action in this case reflects its commitment to upholding the law and protecting the interests of legitimate businesses and consumers alike.
