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."
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."
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.
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