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Indian cryptocurrency exchange WazirX has gained access to bank accounts blocked by the country’s Treasury’s Executive Department (ED). Update on the ED investigation: ED solved WazirX’s bank accounts.
Indian cryptocurrency exchange WazirX has gained access to bank accounts blocked by the country’s Treasury’s Executive Department (ED).
Update on the ED investigation:
ED solved WazirX’s bank accounts. WazirX, in collaboration with the investigators, provided all necessary details and documentation of the accused companies allegedly using the WazirX platform.
More about it 👇https://t.co/DU36aT2oJA
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) September 12, 2022
In August, ED suspected WazirX had laundered $350 million. According to media reports, it froze the exchange’s assets for $8.16 million as part of a regulatory lawsuit.
“The Law Enforcement Department is investigating 16 fintech companies and crypto lending services. Some used the WazirX platform. [Компания] It is cooperating with the investigation by providing all necessary information, information and documents.
Exchange representatives stressed that they were “not related” to any of the 16 companies.
“Thanks to WazirX’s cooperation and active anti-money laundering (AML) controls that led to suspicious accounts being blocked, ED froze WazirX assets,” the company said.
In August, Binance CEO Changpeng Zhao stated that the company has never owned a stake in Zanmai Labs, which is behind WazirX. According to him, the deal announced in November 2019 was not completed.
Recall that Nishal Shetty, co-founder of WazirX, denied Zhao’s statements regarding the relationship between the companies. According to him, there are all the documents confirming the sale, but he cannot show them “for legal reasons.”
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
