On Thursday, the Enforcement Directorate froze the cryptocurrency exchange Vauld’s assets worth Rs 370 crore. This comes just days after the financial investigation agency froze the assets of cryptocurrency exchange WazirX in connection with a money laundering investigation.
Meanwhile, global crypto exchange Binance announced on Monday that it is terminating off-chain fund transfers with WazirX, which is under investigation for transferring crypto assets worth Rs 2,790 crore to unknown wallets.
The ED is conducting a money laundering investigation against a number of Indian Non-Banking Financial Company (NBFC) companies and their fintech partners for predatory lending practises that violate RBI guidelines, as well as by using telemarketers who misuse personal data and use abusive language to extort high interest rates from loan takers.
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