The Enforcement Directorate (ED) has raided the premises of Sameer Mhatre, director of the WazirX cryptocurrency exchange. The ED has also frozen their accounts. It is being told that an amount of Rs 64.67 crore lying in their accounts has been frozen.
The director of the company is alleged to have helped accused instant loan app companies of money laundering fraudulently through the purchase and transfer of crypto assets.
The federal agency said it conducted raids in Hyderabad on August 3 against a director of Janmai Lab Pvt Ltd, which owns the WazirX cryptocurrency exchange. The ED has also said that they were not cooperating during the raids.
Accused of helping China's loan app companies
This action of the ED (Enforcement Directorate) against crypto exchange Wazirx is related to the ongoing investigation against several Chinese loan apps operating in India. The agency accused WazirX of alleged violations of the Foreign Exchange Management Act (FEMA) last year.
The ED has said that WazirX director Sameer Mhatre has full access to WazirX's database, but despite this, he is not providing data related to crypto transactions that have been purchased with the proceeds of the loan app fraud. . WazirX is accused of aiding the director of a cryptocurrency exchange accused loan app companies in money laundering fraudulently through the purchase and transfer of virtual crypto assets.
Violation of RBI guidelines
Let us tell you that the Enforcement Directorate is investigating all NBFC companies operating in the country and their fintech partners for violating the guidelines of the Reserve Bank of India (RBI) and misuse of personal data and money laundering. These companies are accused of using abusive language to collect high-interest rates from borrowers using tele callers.
Let us tell you that after not getting the license related to lending business to many Chinese financed fintech companies in the country from RBI, they started their work by signing MoUs with the closed NBFC companies. When the investigation started in this case, many companies ran away from their business and hid the money earned.
Money laundering is done with the help of crypto exchange
The ED (Enforcement Directorate) in its investigation so far has found that these companies invested heavily in cryptocurrencies and transferred them abroad with the help of exchanges. There have also been many such proofs related to transactions in cryptocurrencies that were not even recorded in the blockchain of crypto. In such a situation, these virtual assets have not been traced yet.
In the same case, ED issued summons to crypto exchange WazirX. WazirX is alleged to have facilitated the transfer of crypto assets purchased on behalf of the accused companies to unknown foreign wallets.
Also Read: Crypto Terror Funding: Using Cryptocurrencies For Terror Funding, How Safe Is Your Investment?
Easter: Easter celebrated with Kareena Kapoor's family, Taimur, Jeh, Inaaya, Kiaan and Saif Ali Khan were seen
Kareena Kapoor Eastar Photos: Kareena Kapoor shared her Easter pictures. In this, he can be seen with his kids Taimur Ali Khan, Jeh Ali Khan, and Inaaya Naumi Khemu. At the same time, Karisma Kapoor's
'Canada's allegations are serious...', America came out in support of Trudeau government in Nijjar murder case; What did it demand from India?
India vs Canada issue Canada has made several allegations against India regarding the murder of Khalistani terrorist Hardeep Singh Nijjar, after which relations between the two countries have
Kallakuruchi poisonous liquor tragedy: AIADMK MLA sits on hunger strike, demands CBI inquiry from Stalin government
Unnat DMK leaders in Tamil Nadu condemned the state government DMK over the Kallakuruchi poisonous liquor tragedy. Demanding a CBI inquiry into the matter, many AIADMK leaders sat on a hunger strike
IND vs AUS: Australia trampled India and turned the pages of history, did this big feat in ODI cricket
In the second ODI played in Visakhapatnam, the Australian team created history by defeating the Indian team by 10 wickets. By winning this one-sided match, Australia's team has become the only team,
Maharashtra Politics: 'Shocking events in the future...', CM Fadnavis taunts Maharashtra's political upheaval; MVA cornered
Maharashtra Chief Minister Devendra Fadnavis and his deputy chief ministers Ajit Pawar and Eknath Shinde assumed their responsibilities at the state secretariat. After his first cabinet meeting, the
MBBS: NMC will issue notification of the National Exit Test, and medical students will get admission based on this
The National Medical Commission may issue a notification regarding the National Exit Test. This is an important decision that the government has taken on the National Exit Test. The exam is scheduled
Pakistan News: 'We want nothing else, just Narendra Modi', video of Pakistani is going viral on social media
The video of a YouTube journalist from Pakistan is becoming increasingly viral on social media these days. In this video, she is asking a Pakistani youth about the recent situation in Pakistan, and
Seema Haider: Job of six lakhs, offer of work in the film... The luck of the Pakistani border shines in India
Seema Haider, who crossed the border of Pakistan and entered India via Nepal, has now also got a film offer. Along with this, Seema has also got a job offer of Rs 6 lakh per annum. A few days ago it
Delhi Election 2025: 'Election Commission is also amazing', said CM Atishi on the case being registered; read what is the whole matter.
A case has been registered against Delhi Chief Minister Atishi for violating the code of conduct. Atishi has posted on X regarding the Election Commission. Atishi wrote on X that the Election
Gyanvapi Case: 'The decision will be taken if it becomes clear whose possession it was before 1993', High Court said this big thing in Vyas ji's basement case
The fact of who occupied the basement of Vyas ji located in the Gyanvapi complex of Varanasi before 1993 has become important. Allahabad High Court says that a decision will be taken once it becomes
