COMPANIES

No Data Found

NEWS

No Data Found
Advertisement
ED unfreezes WazirX bank accounts; bank operations to continue as usual

ED unfreezes WazirX bank accounts; bank operations to continue as usual

The ED had frozen bank assets worth Rs 64.67 crore belonging to Sameer Mhatre, one of WazirX's directors in the month of August. The exchange was under investigation in relation to accusations of money laundering via crypto assets.

Business Today Desk
Business Today Desk
  • Updated Sep 12, 2022 1:04 PM IST
ED unfreezes WazirX bank accounts; bank operations to continue as usualWazirX crypto exchange made the announcement via a tweet.

Indian crypto exchange WazirX announced on Monday that the Enforcement Directorate had unfrozen their bank accounts. The crypto exchange announced in a tweet, "The ED has unfrozen the bank accounts of WazirX. In cooperation with investigators, WazirX provided all necessary details & documents of the alleged accused companies that used the WazirX platform."

Advertisement

The exchange clarified in a complete statement, "The Enforcement Directorate (ED) has been conducting investigations of 16 fintech companies and Instant loan apps. Some out of them have happened to use the WazirX platform. WazirX has been cooperating with the investigators by providing them with all the necessary details, information, and documents of the alleged accused companies who used the WazirX platform."

They further added, "The company further clarified that it has no association with any of the alleged accused Fintech and Instant loan app entities which appear to be the subject of ED investigation, and is carrying out the KYC/AML checks despite having no legal obligation to do so. WazirX is like any other intermediary whose platform may have been misused."

Advertisement

Interestingly, the ED had frozen bank assets worth Rs 64.67 crore belonging to Sameer Mhatre, one of WazirX's directors in the month of August. The exchange was under investigation in relation to accusations of money laundering via crypto assets.

Also Read: Binance denies owning equity in WazirX as exchange faces trouble with ED - BusinessToda

Also Read: 15 million crypto users left in limbo as Binance-WazirX Twitter feud continues - BusinessToday

Also Read: Binance could shutdown WazirX, move your funds: Changpeng Zhao - BusinessToday

Published on: Sep 12, 2022 12:57 PM IST
Post a comment