The Enforcement Authority of the Ministry of Finance of India has blocked crypto lending platform Vauld from accessing assets worth 370 crore (~$46 million). Reported by India Today.

The ministry did not make an official statement. Vauld representatives said they were looking into the issue in their meeting with CoinDesk.

On July 4, the company announced the suspension of operations due to financial difficulties and a possible restructuring. The next day, it was learned that rival Nexo had signed a pre-acquisition deal with Vauld.

Later, the media learned, citing court documents, that Vauld had $402 million in outstanding debt after these events, of which $363 million came from retail investors.

According to the Economic Times, the regulator is investigating ten crypto platforms to help foreign firms launder money using cryptocurrencies.

Recall, the Ministry of Finance of India suspects that the Law Enforcement Agency WazirX laundered $350 million. According to media reports, it froze the assets of the exchange for $8.16 million as part of the regulatory litigation.

The regulator had claims against WazirX in 2021 – suspected of violating the exchange’s currency rules.

That same year, one of Binance’s divisions came to the attention of the Indian Anti-Money Laundering Agency.

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