The Indian police were unable to process the bitcoin they seized because the account was frozen.

According to foreign media today, the Indian authorities are now unable to access the cryptocurrencies seized from the Ponzi scheme, as such transfers have been banned. It is reported that the Indian police hired Koinex, the now-defunct Peter cryptocurrency exchange, to convert the seized 84.2 billion rupees ($1.19 million) of bitcoin into local currency, but the company's bank partners have thus frozen their accounts. At present, the Indian police have asked the Supreme Court to ask the Bank of India to lift the account, but the Bank of India has denied the lock on the Koinex account, while claiming that it has not instructed other banks to do so.