India-based crypto trading platform WazirX has said that the Enforcement Directorate (ED), has unfrozen its bank accounts allowing the company to continue banking operations.
In August, they conduct searches on one of the directors of Zanmai Labs, which operates WazirX in India and issue a freezing order to freeze their bank balances to the tune of Rs. 64.67 crores.
This was in relation to ED’s investigation of 16 fintech companies and Instant loan apps.
The crypto exchange announce in a tweet :
Update on ED investigation:
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) September 12, 2022
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.
More on this 👇https://t.co/DU36aT2oJA
The exchange clarified in a blog post that :
News of the ED investigation led to Binance virtually disowning WazirX.