The Enforcement Directorate on Friday conducted searches on the Director of WazirX Crypto-Currency Exchange, Sameer Mhatre. The central probe agency also froze its bank assets worth Rs 64.67 Crores for assisting accused Instant Loan APP Companies in the laundering of fraud money via purchase and 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 development comes days after Minister of State for Finance Pankaj Chaudhary stated that the ED is investigating two cases related to WazirX, for alleged violation of the Foreign Exchange Management Act.
