The Enforcement Directorate (ED) on Friday (August 5) has frozen the assets of cryptocurrency exchange WazirX. The government body has frozen Rs 64.67 crore of bank assets of the company to help some accused ‘Immediate Loan APP Companies’.
ED attaches bank assets of WazirX worth Rs 64.67 cr
In a public statement on Twitter, the government body said, “ED searches director of WazirX crypto-currency exchange 64.67 for assisting Instant Loan APP companies accused in laundering of fraudulent money through purchase and transfer of virtual crypto. Freeze his bank assets worth Rs.
The government agency conducted searches against the director of Zanmai Lab Pvt Ltd, which owns WazirX, and was said to be “non-cooperative”. (via PTI)
WazirX was on the government agency’s radar since this week as Minister of State for Finance Pankaj Choudhary recently mentioned that the ED was probing two cases related to the crypto-currency exchange firm.
In a written reply to the Rajya Sabha, Chowdhury said, “In one case, the investigation conducted so far has revealed that WazirX, an Indian crypto-exchange platform operated by Zanmai Labs Pvt Ltd in India, is operating within the boundary wall infrastructure of the Cayman Islands. based exchange Binance. Further it has been found that not all crypto transactions between these two exchanges were being recorded on the blockchain and thus were kept in secret.”
Furthermore, reports suggest that WazirX director, Sameer Mhatre, did not provide any details of transactions relating to crypto assets, which were purchased from the proceeds of the instant loan app’s crime, despite having remote access to the company’s database. . Danger.
Headquartered in Mumbai, WazirX is one of the most popular cryptocurrency exchange platforms where users trade Bitcoin, Ethereum and other cryptocurrencies. The platform is known for its efficient and easy-to-use design and is said to provide best-in-class security when trading in cryptocurrencies.
ED freezes bank assets worth around Rs 65 crore of crypto exchange platform WazirX, first appeared on BGR India.