ED Raids at 2 Bengaluru Crypto Platforms Reveal Costa Rica Shell Entity, Overseas Trades Worth Crores
- The Enforcement Directorate searched three Bengaluru premises linked to CoinDCX and Delta Exchange on November 4 and 5 over alleged unauthorized cross-border transactions involving FEMA violations.
- The ED alleged that CoinDCX converted customers’ rupees into USDT and routed trades through overseas exchanges using accounts tied to a Costa Rica-based entity.
- The agency said CoinDCX and Delta Exchange handled crypto derivatives and tokenized foreign stocks, with transactions worth thousands of crores allegedly routed through foreign platforms.
- CoinDCX said it cooperated and complied with Indian laws, while Delta Exchange said trading, deposits, and withdrawals continued normally.
11 Articles
11 Articles
ED searches CoinDCX premises
The Enforcement Directorate in Bengaluru has conducted a search at three premises linked to Neblio Technologies Pvt. Ltd. (parent company of CoinDCX) and Excelium Technologies Pvt. Ltd, which runs the Delta Exchange, under FEMA 1999 in the case of large-scale unauthorised cross-border financial transactions involving crypto token derivatives and Real World Asset tokens.
ED searches CoinDCX, Delta Exchange offices in Bengaluru over alleged FEMA violations
Enforcement Directorate conducted searches at three premises in Bengaluru over alleged unauthorised cross-border transactions involving cryptocurrency derivatives and tokenised stocks, with transactions running into thousands of crores of rupees.
Bitcoin.com
BITRSSIndian Enforcement Raids CoinDCX Over Claims Its Trades Ran Through Binance
India’s Enforcement Directorate (ED) searched premises linked to CoinDCX and Delta Exchange India, alleging they routed users’ trades to Binance, Bybit and other offshore platforms. The Searches The ED said its Bengaluru office searched three premises tied to Neblio Technologies, the parent of CoinDCX, and Excelium Technologies, which operates Delta Exchange India, between Nov. 4 […]
CoinDCX and Delta Exchange India Face ED Searches Under FEMA
India’s Enforcement Directorate has searched premises linked to two crypto exchanges, CoinDCX and Delta Exchange India, saying it found evidence that trades worth several thousands of crores of rupees were sent to overseas platforms in breach of the country’s foreign exchange law. Both companies reject the suggestion of wrongdoing. The agency’s Bengaluru office said it […] Read The Full Article CoinDCX and Delta Exchange India Face ED Searches U…
Coverage Details
Bias Distribution
- 100% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
