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ED freezes crypto exchange WazirX’s bank assets worth Rs 65 crore | India News,The Indian Express

The ED is investigating two cases related to crypto-currency against WazirX under the provisions of Foreign Exchange Management Act, 1999 (FEMA).

The Enforcement Directorate (ED) on Friday said it has frozen cryptocurrency exchange WazirX’s bank assets worth nearly 65 crore as a part of a money laundering probe.

In a statement on Twitter, the law enforcement agency said, “ED searches the Director of WazirX Crypto-Currency Exchange and freezes its Bank assets worth Rs 64.67 Crore for assisting accused Instant Loan APP Companies in laundering of fraud money via purchase & transfer of virtual crypto assets.”

ED searches the Director of WazirX Crypto-Currency Exchange & freezes its Bank assets worth Rs 64.67 Crore for assisting accused Instant Loan APP Companies in laundering of fraud money via purchase & transfer of virtual crypto assets.

— ED (@dir_ed) August 5, 2022

The agency said it conducted searches against a director of Zanmai Lab Pvt Ltd, which owns WazirX, on August 3 in Hyderabad and alleged he was “non-cooperative”, news agency PTI reported.

https://indianexpress.com/article/india/ed-freezes-crypto-exchange-wazirxs-bank-assets-rs-65-crore-8072920/


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