ED freezes over Rs 64 crore in crypto exchange bank deposits WazirX

The Enforcement Directorate (ED) announced on Friday that it has frozen Rs 64.67 crore in bank deposits as part of a money laundering investigation into WazirX.

The investigation into the crypto exchange is linked to the agency’s ongoing investigation into a number of Chinese loan apps (mobile applications) operating in India.

The federal agency said it raided a director of Zanmai Lab Pvt Ltd, which owns WAZirX, on August 3 in Hyderabad and accused him of being “uncooperative.”