Policy · Professional & Local Services

ED freezes INR 192 Cr WinZO assets in money laundering probe

By Startup Enthusiast · 2 January 2026

What they do

WinZO runs a real money gaming platform where users play skill games for cash prizes

The Enforcement Directorate froze INR 192 Cr in bank balances, FD receipts and mutual funds linked to WinZO

The ED alleges WinZO used bots to play against users and limited withdrawals, generating proceeds of crime

The Enforcement Directorate (ED) froze INR 192 Cr in assets of WinZO in a money laundering probe.
The frozen assets include bank balances, FD receipts and mutual funds worth INR 192 Cr.
The ED carried out search operations at WinZO's accounting firm office on 30 December 2025.
The ED had earlier frozen assets worth INR 505 Cr linked to WinZO in November 2025.
The ED arrested WinZO cofounders Saumya Singh Rathore and Paavan Nanda under the Prevention of Money Laundering Act (PMLA) in November 2025.
Saumya Singh Rathore was granted bail by a Bengaluru sessions court, while the court refused bail to Paavan Nanda.
The ED alleges WinZO lured customers to play with bots/AI/algorithms without disclosure and prevented or limited withdrawals of customer money.
The ED alleges WinZO generated proceeds of crime of about INR 802 Cr total, including INR 177 Cr from bots between May 2024 and August 2025.

The central government imposed a blanket ban on real money gaming in India in August 2025.
The ban led WinZO, Dream11 and MPL to suspend real money gaming offerings in India.
Real money gaming startups laid off hundreds of employees after the ban.
WinZO ventured into the US market and launched a short video platform ZO TV after the ban.

WinZO is a real money gaming platform where users play skill-based games for cash prizes.
The company was founded in 2018 by Saumya Singh Rathore and Paavan Nanda.
WinZO has raised over $110 Mn from investors including Courtside Ventures, Makers Fund and Kalaari Capital.
After the real money gaming ban, WinZO expanded to the US market and launched ZO TV, a short video platform.
The ED alleges WinZO used bots named PPP, EP and Persona to play against real players and generated 'Rake Commission' from bot matches.