WazirX money laundering

India’s Enforcement Agency Unfreezes WazirX Crypto Assets

13.09.2022 09:48
by Sviatoslav Pinchuk
1 min read

India’s Enforcement Directorate (ED) has now unfrozen the $8.14 million worth of crypto assets sitting on the WazirX crypto exchange.

In August, we reported that ED was investigating India’s largest crypto exchange for its alleged involvement in money laundering on its platform. According to ED’s press release, 16 financial technology companies were suspected of using WazirX to launder money.

Now, thanks to the exchange’s cooperation and new relevant data that was unearthed, WazirX’s accounts are unfrozen. Namely, the investigation showed that the majority of the 16 companies’ accounts have already been blocked in 2020 and 2021. Good job, WazirX.

ED seems to currently be in the middle of a battle against crypto-crime. Two weeks ago, it started its investigation of another Indian crypto exchange, CoinSwitch, which is suspected of breaking the country’s forex laws.

Author

  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

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