Subscribe To Our Free Newsletter |
Bank a/cs of WazirX director frozen under PMLA following raid
The Enforcement Directorate on Wednesday froze bank assets worth Rs 64.5 core of a director of Zanmai Labs Private Limited - the entity that owns and runs cryptocurrency exchange platform WazirX - after it conducted a raid on the premises of the director. During its probe, the ED found that WazirX assisted 16 fintech companies accused of laundering fraud money via the purchase and transfer of virtual crypto assets, and involved with predatory lending practices in violation of the guidelines from the Reserve Bank of India.