ED froze Rs 370 crore assets of Vauld
2022-08-12![ED froze Rs 370 crore assets of Vauld ED froze Rs 370 crore assets of Vauld](https://varindia.com/storage/news/uploads/2018/02/62f65f65b9a24.jpg)
The Enforcement Directorate (ED) froze assets worth Rs 370 crore of cryptocurrency exchange Vauld, days after the agency froze assets of cryptocurrency exchange WazirX in connection with a money laundering probe.
The ED is conducting a money laundering investigation against a number of Indian Non-Banking Financial Company (NBFC) companies and their fintech partners for predatory lending practices in violation of the RBI guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
Recently, the ED froze Rs 64.67 crore worth bank deposits belonging to cryptocurrency exchange WazirX’s director Sameer Mhatr as part of an ongoing money laundering probe against some fraud smartphone-based loan dishing apps “backed by” Chinese funds.
Meanwhile, global crypto exchange Binance said it is closing off-chain fund transfers with WazirX which is facing a probe for outward remittance of crypto assets worth Rs 2,790 crore to unknown wallets.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.