Published 2 years ago

India's ED Probes at Least 10 Crypto Exchanges on Money Laundering Allegations: Report

Summary by Ground News

At least ten crypto exchanges are being investigated by the Enforcement Directorate (ED) of India. The exchanges are accused of laundering around Rs. 1000 crore ($125 million) The money in question has been identified as criminal proceeds of firms in the instant loan app case. The probe comes hot on the heels of WazirX's predicament.

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Times of India

ED probing crypto exchanges for alleged laundering of over Rs 1,000 crore

The ED is expected to question officials of the crypto exchanges under investigation again next week, said an industry executive.

2 years ago·India

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News18 India

Crypto Exchanges in India Under ED Lens: Rs 1,000-Cr Alleged Money Laundering by 10 Platforms

Even as the Enforcement Directorate (ED) has conducted searches on one of the directors of Zanmai Lab, which owns cryptocurrency exchange WazirX, there are other cryptocurrency exchanges that are under the ED lens

2 years ago·India

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Business Standard

Ten crypto exchanges under ED lens for allegedly laundering Rs 10 billion

Many investors were traced based on their KYC details available with these crypto exchanges, but they were found to be fake or different from the real ones

2 years ago·India

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Moneycontrol

10 crypto exchanges with China link under ED lens for alleged laundering over Rs 1,000 crore: Report

The exchanges did not conduct any enhanced due diligence and even failed to raise suspicious transaction reports (STRs)

2 years ago·India

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India TV News

10 crypto exchanges under ED lens, summons issued

ED sources said the crypto exchanges didn't complete the KYC process of their investors. When the ED traced a few investors on the basis of their KYC, they reportedly turned out to be fake.

2 years ago·India

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IBTimes India

Ten crypto exchanges under ED lens; summons issued [details]

As many as ten crypto exchanges were under the lens of the Enforcement Directorate (ED) for their alleged involvement in money laundering of around Rs 10 billion.

2 years ago·India

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