Highlights

  • Reports indicate ED will question concerned people at the crypto exchanges next week
  • Faulty/Dubious KYCs have been identified by the ED as per reports

Latest news

IND VS AUS: 'It's a good sign': Rohit Sharma heaps praise on Suryakumar, Virat Kohli after series win

IND VS AUS: 'It's a good sign': Rohit Sharma heaps praise on Suryakumar, Virat Kohli after series win

Top lawyer Mukul Rohatgi rejects Modi govt's offer to be Attorney General again: reports

Top lawyer Mukul Rohatgi rejects Modi govt's offer to be Attorney General again: reports

Navratri 2022: Bollywood songs that are perfect to groove to this festival

Navratri 2022: Bollywood songs that are perfect to groove to this festival

USA: Sikh student arrested for having 'kirpan'; BJP leader slams university; authorities clarify

USA: Sikh student arrested for having 'kirpan'; BJP leader slams university; authorities clarify

Rajasthan: BJP's 'India-Australia cricket match' jibe at Congress over Gehlot-Pilot CM tussle

Rajasthan: BJP's 'India-Australia cricket match' jibe at Congress over Gehlot-Pilot CM tussle

Crypto Crackdown: Exchanges under scrutiny for massive money laundering

Enforcement Directorate (ED) is probing at least ten cryptocurrency exchanges

The crypto ecosystem is under tough scrutiny as the Enforcement Directorate (ED) is probing at least ten cryptocurrency exchanges for possible money laundering as per reports. The ED is probing laundering over Rs 1000 cr via various crypto platforms.

Reports indicate that ED has found that many KYC details collected by the crypto exchanges were found to be dubious in many cases. Sources told Times Group that they were traced to some persons living in remote areas having no connection with the transactions.

Read/Watch Also: Binance a hub for laundering?

The probe now extends from WazirX onto other platforms as the ED has already frozen a few accounts of WazirX that also is seeing volumes tanking sharply with users fleeing.
The ED, earlier this week, said that Zanmai Labs Pvt Ltd, which owns WazirX Crypto Exchange, has created a web of agreements with Crowdfire Inc. USA, Binance (Cayman Islands), and Zettai Pte Ltd Singapore to allegedly obscure the ownership of the crypto exchange.

Up Next

Crypto Crackdown: Exchanges under scrutiny for massive money laundering

Crypto Crackdown: Exchanges under scrutiny for massive money laundering

Explained Binance vs WazirX: The cryptic crypto ownership & the ED angle

Explained Binance vs WazirX: The cryptic crypto ownership & the ED angle

First-ever cryptocurrency insider trading case: Two Indians, their Indian-American friend charged in US

First-ever cryptocurrency insider trading case: Two Indians, their Indian-American friend charged in US

Crypto legal limbo: A look at how the world is regulating cryptocurrencies

Crypto legal limbo: A look at how the world is regulating cryptocurrencies

FM explains why a complete crypto ban is not possible

FM explains why a complete crypto ban is not possible

Crypto collapse: Another firm bites the dust, files for bankruptcy

Crypto collapse: Another firm bites the dust, files for bankruptcy

More videos

Texas braces for blackout: Heatwave pushes power grid to brink, Bitcoin mining halted

Texas braces for blackout: Heatwave pushes power grid to brink, Bitcoin mining halted

Bitcoin set to drop 50% from here to $10,000: survey shows

Bitcoin set to drop 50% from here to $10,000: survey shows

British Army's Twitter, YouTube hacked to promote crypto scam

British Army's Twitter, YouTube hacked to promote crypto scam

Crypto Collapse: Hedge fund defaults on a $670 million loan

Crypto Collapse: Hedge fund defaults on a $670 million loan

Beware of massive Crypto scam, here is what you need to know

Beware of massive Crypto scam, here is what you need to know

Solana launches $1,000 crypto smartphone

Solana launches $1,000 crypto smartphone

Bitcoin on a wild ride, latest updates from the crypto crisis

Bitcoin on a wild ride, latest updates from the crypto crisis

Bitcoin crashes below $20,000; 50% value wiped out this year

Bitcoin crashes below $20,000; 50% value wiped out this year

Scammer and fake heiress Anna Sorokin is now launching a NFT

Scammer and fake heiress Anna Sorokin is now launching a NFT

Crypto come crumbling down! Bitcoin tests $20,000

Crypto come crumbling down! Bitcoin tests $20,000

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.