WazirX crypto exchange halts deposits and withdrawals after $230 million hack; reported incident to Indian regulators
8 months ago

WazirX crypto exchange halts deposits and withdrawals after $230 million hack; reported incident to Indian regulators

The Hindu  

Indian cryptocurrency exchange WazirX said that it had reached out to the Indian police, the Financial Intelligence Unit India, CERT-In, and over 500 other exchanges in order to respond to a hack of its wallet that led to the theft of more than $230 million. “On July 18, 2024, WazirX experienced a cyber attack on one of our multisig wallets, resulting in the theft of digital assets exceeding $230 million. As a result of the attack, our ability to maintain 1:1 collaterals with assets has been deeply impacted,” said WazirX, in addition to saying it had taken “immediate and comprehensive actions.” The crypto exchange paused deposits and withdrawals for both Indian rupee and crypto users. “We have already tracked and blocked some funds from wallet services but cannot disclose any further details on this yet,” said the crypto exchange.

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History of this topic

World's largest crypto theft reported at Bybit; ₹13,000-crore Ethereum stolen
1 month ago

World's largest crypto theft reported at Bybit; ₹13,000-crore Ethereum stolen

Hindustan Times  

The world's largest cryptocurrency hack has been reported at Dubai-based exchange Bybit. The world's largest cryptocurrency hack has been reported at Dubai-based Bybit, with cryto worth ₹ 13,000 crore being reported stolen. Bybit CEO and Founder Ben Zhou assured customers that their “funds are safe” and said that the company has launched a refund program for affected users. India's largest …

ED seizes ₹1,646 crore under PMLA case in ‘biggest-ever’ cryptocurrency fraud
1 month, 1 week ago

ED seizes ₹1,646 crore under PMLA case in ‘biggest-ever’ cryptocurrency fraud

Live Mint  

The Enforcement Directorate has seized its biggest-ever cryptocurrency worth ₹1,646 crore as part of a "mega" money laundering investigation into a fraud investment scheme where several depositors were duped in the name of securities investment. As per PTI, crypto worth ₹1,646 crore was seized and transferred into the agency's special crypto wallet, making it the biggest-ever seizure of virtual digital …

Gujarat: ED seizes Rs 1,646 crore from US-wanted scammer in biggest crypto fraud
1 month, 1 week ago

Gujarat: ED seizes Rs 1,646 crore from US-wanted scammer in biggest crypto fraud

India Today  

The Enforcement Directorate has seized cryptocurrencies worth approximately Rs 1,646 crore in Ahmedabad, Gujarat, as part of its investigation into the massive BitConnect scam. The case revolves around Satish Kumbhani, the founder of the now-defunct crypto investment platform BitConnect, who has been under the scrutiny of the US Department of Justice for orchestrating one of the world's largest cryptocurrency frauds. …

WazirX rebalances user portfolios as exchange urges investors to support restructuring scheme
1 month, 2 weeks ago

WazirX rebalances user portfolios as exchange urges investors to support restructuring scheme

The Hindu  

The Indian crypto exchange WazirX announced the completion of users’ asset rebalancing process as it urged investors to support its restructuring scheme. This distribution, which will be made in tokens, and made available once users vote YES for the Scheme, will represent ~85% of creditors’ Balances, valued as of 18 July 2024 1PM IST,” said WazirX in a press statement …

WazirX publishes preliminary creditor list and July 18 balance snapshot inside app
1 month, 2 weeks ago

WazirX publishes preliminary creditor list and July 18 balance snapshot inside app

The Hindu  

Indian crypto exchange WazirX announced that it had published the preliminary creditor list and the snapshot of user balances on July 18, as part of its restructuring process in Singapore after the hack that took place on July 18 last year. Additionally, creditors can inspect another creditor’s claim by submitting an inspection request during the Inspection process,” said WazirX in …

WazirX $230million hack: Creditors given two ways to recover stolen crypto -- ’extended delays till 2030 or...’
1 month, 3 weeks ago

WazirX $230million hack: Creditors given two ways to recover stolen crypto -- ’extended delays till 2030 or...’

Live Mint  

Indian cryptocurrency exchange WazirX has announced that the users will be able to receive stolen crypto funds by April 2025 if they approve the restructuring and scheme. WazirX scheme The scheme comprises elements such as debt restructuring, token distribution, recovery token implementation, and platform reactivation. WazirX said that if the creditors approve the restructuring plan and receive sanctions from the …

WazirX To Creditors: Choose Restructuring Scheme & Start Getting Refunds As Early As April, Or Wait Till 2030
1 month, 3 weeks ago

WazirX To Creditors: Choose Restructuring Scheme & Start Getting Refunds As Early As April, Or Wait Till 2030

ABP News  

Cryptocurrency exchange WazirX has presented a critical restructuring plan to its creditors, offering two stark options: approve the scheme and start receiving refunds as early as April 2025 or face a protracted wait until 2030 with potentially reduced recoveries. Initial payouts are expected within ten business days of the scheme’s activation, with creditors receiving net liquid assets. The platform's recovery …

WazirX freezes first tranche of stolen funds worth $3 million
2 months, 1 week ago

WazirX freezes first tranche of stolen funds worth $3 million

The Hindu  

Cryptocurrency exchange WazirX on Friday said it has frozen the first tranche of assets which were stolen during last year’s cyberattack worth $3 million. In a statement announcing the freezing of about $3 million in stolen assets, Founder Nischal Shetty said WazirX is fully committed to recovering the stolen funds “leaving no stone unturned to maximise recoveries under a scheme”. …

Crypto funds stolen in 2024 up by almost 21.07% to hit $2.2 billion: Report
3 months ago

Crypto funds stolen in 2024 up by almost 21.07% to hit $2.2 billion: Report

The Hindu  

The volume of stolen crypto funds and the number of hacking incidents has risen in 2024, according to a report by blockchain analytics firm Chainalysis. According to the report, stolen crypto funds spiked by approximately 21.07% year-over-year to reach a volume of $2.2 billion. Chainalysis in its report noted a tendency this year for hackers to also target centralised services …

WazirX files application for creditors’ meeting to present and vote on restructuring scheme
3 months, 2 weeks ago

WazirX files application for creditors’ meeting to present and vote on restructuring scheme

The Hindu  

WazirX’s crypto operating entity Zettai said that it had filed an application with the Singapore High Court in order to carry out a creditors’ meeting where it could present and conduct a vote on the post-hack restructuring scheme. “Under the Scheme the net available liquid funds which currently represent over 100% of the USD value of liabilities as on 18th …

Bengal man arrested in Rs 2,000 crore crypto heist on WazirX
4 months, 1 week ago

Bengal man arrested in Rs 2,000 crore crypto heist on WazirX

India Today  

The Delhi Police has arrested an individual in connection with the cyberattack on cryptocurrency exchange firm, WazirX, which resulted in losses of around Rs 2,000 crore in digital assets. In a chargesheet filed by the Delhi Police, Alam is accused of opening a WazirX account under the name Souvik Mondal and selling it via Telegram to another individual, M Hasan, …

WazirX proposes launching decentralised exchange and recovery token as investors wait to access locked up crypto
4 months, 2 weeks ago

WazirX proposes launching decentralised exchange and recovery token as investors wait to access locked up crypto

The Hindu  

In a townhall event on Wednesday, Indian crypto exchange WazirX and risk advisory firm Kroll announced plans to launch a decentralised exchange as well as a new crypto token in order to deliver some recoveries to investors whose existing crypto has been locked up since the July cyber-attack that cost the exchange over $230 million. In response to The Hindu’s …

Binance accuses WazirX CEO Nischal Shetty of misleading customers after wallet attack
6 months, 1 week ago

Binance accuses WazirX CEO Nischal Shetty of misleading customers after wallet attack

The Hindu  

The international cryptocurrency exchange Binance has released a statement distancing itself from the Indian exchange WazirX and accusing CEO Nischal Shetty of misleading customers, after the Indian company’s multi-signature wallet was hacked, leading to the loss of more than $230 million and bringing to light a contentious business relationship between the two exchanges. While WazirX has claimed that it was …

India’s Biggest Crypto Hack of 2000 Crores: What WazirX Hack Teaches Us
6 months, 2 weeks ago

India’s Biggest Crypto Hack of 2000 Crores: What WazirX Hack Teaches Us

ABP News  

Over 50 days have passed since the biggest crypto cyber hack of India- the WazirX hack- that resulted in the theft of Rs 2000 crores worth of cryptocurrencies from the exchange. What has transpired since the July 18 hack of WazirX exchange depicts a classic tale of denial and obfuscation by the exchange management, apathy of the Indian government towards …

Crypto firm WazirX's security partner says no evidence of cyberattack on its system
6 months, 2 weeks ago

Crypto firm WazirX's security partner says no evidence of cyberattack on its system

India Today  

Liminal Custody, a digital asset custody company, has claimed the cyberattack that hit its security partner and cryptocurrency exchange, WazirX, happened at the latter's end as per audit findings. A comprehensive review of Liminal Custody's web application, including its front end, User Interface and backend was conducted by audit firm Grant Thornton. The audit firm said it did not find …

WazirX Hack: Over $230 Million in stolen Crypto converted to Ether
6 months, 3 weeks ago

WazirX Hack: Over $230 Million in stolen Crypto converted to Ether

The Hindu  

A major part of the more than $230 million in assets stolen from Indian crypto exchange WazirX last month has been converted to Ether, the second biggest cryptocurrency by market capitalisation, according to the crypto tracker Lookonchain. Crypto outlet Coin Desk also reported that a cryptocurrency “mixer” known as Tornado Cash was used to carry out currency transport. In response …

WazirX hack: Users unlikely to get full fund
6 months, 3 weeks ago

WazirX hack: Users unlikely to get full fund

New Indian Express  

BENGALURU: Users of crypto exchange WazirX, which was hacked in July resulting in the theft of digital assets worth above Rs 2,000 crore, may not receive their funds in full. Last month, Google subsidiary Mandiant Solutions provided a clean chit to the exchange, but digital assets security firm Liminal Custody questioned the scope and methodology of the audit. We gave …

The $230-million WazirX hack: regulatory gap leaves 4 million Indians stranded
6 months, 3 weeks ago

The $230-million WazirX hack: regulatory gap leaves 4 million Indians stranded

Live Mint  

About 4.2 million of WazirX’s 16 million users were struck by a massive hack of the cryptocurrency exchange on 18 July that wiped off 40-50% of their crypto balances. “I had invested approximately ₹1.4 lakh in WazirX around 3-4 years ago, which grew to ₹2 lakh over time… I think about half my money will come back—whether in 1 year …

Mudrex crypto exchange obtains court order against scam websites misusing its name
6 months, 3 weeks ago

Mudrex crypto exchange obtains court order against scam websites misusing its name

The Hindu  

The Indian cryptocurrency exchange Mudrex obtained a court order that will direct the Indian government to take down a number of scam websites misusing its name and brand, per its CEO and a report by crypto outlet CoinDesk. The scammers allegedly impersonated real Mudrex employees, lured victims through Telegram by promising them rewards or work, and ran fake investment websites …

CoinSwitch to file lawsuit against WazirX
6 months, 3 weeks ago

CoinSwitch to file lawsuit against WazirX

New Indian Express  

BENGALURU: Cryptocurrency exchange CoinSwitch, which has Rs 12.4 crore in INR, Rs 28.7 crore in ERC20 tokens, and Rs 39.9 crore in other tokens on WazirX, will take legal action to recover the funds. A cyberattack on WazirX recently led to theft of about Rs 2,000 crore funds. As an exchange aggregator, CoinSwitch maintains a small amount of liquidity on …

WazirX files moratorium application with Singapore court under insolvency act, seeks to restructure liabilities
6 months, 3 weeks ago

WazirX files moratorium application with Singapore court under insolvency act, seeks to restructure liabilities

Live Mint  

Zettai Pte Ltd, the holding company of the cryptocurrency exchange WazirX, posted on X on Wednesday, August 28, that it had filed an application with the High Court of Singapore under Section 64 of the Insolvency, Restructuring and Dissolution Act 2018. WazirX said the period will give it time to develop a restructuring plan that “represents the most efficient way …

Crypto exchange WazirX faces cyber threats, announces partial INR withdrawals starting from August 26
7 months ago

Crypto exchange WazirX faces cyber threats, announces partial INR withdrawals starting from August 26

Live Mint  

Cryptocurrency exchange WazirX has announced that it will allow INR balance withdrawals from its platform starting August 26. This announcement comes about a month after WazirX was targeted in a cyberattack that compromised one of its multisig wallets holding $230 million in crypto assets, representing nearly 45 percent of the exchange's total holdings. "While the operating entity for INR-related activities, …

WazirX CEO Nischal Shetty shares move to restore account balances and undo all platform trades post-withdrawal halt
7 months, 2 weeks ago

WazirX CEO Nischal Shetty shares move to restore account balances and undo all platform trades post-withdrawal halt

The Hindu  

Indian crypto exchange WazirX announced that all user balances would be restored to what they were on July 18, 1 PM IST, prior to a cyberattack against one of the company’s multi-signature wallets that led to the loss of over $230 million in assets at the time. “After careful consideration of the situation and the feedback received from numerous users, …

WazirX crypto hack | As CEO Nischal Shetty confirms FIR, rival exchange CoinDCX announces ₹50 crore investor protection fund
7 months, 2 weeks ago

WazirX crypto hack | As CEO Nischal Shetty confirms FIR, rival exchange CoinDCX announces ₹50 crore investor protection fund

The Hindu  

As WazirX cryptocurrency exchange users anxiously wait for updates regarding the more than $230 million in assets stolen from a breached multi-signature wallet, rival crypto exchange CoinDCX announced a ₹50 crore Crypto Investors Protection Fund. The company’s CEO Nischal Shetty repeatedly asked users to be patient as the incident was being investigated, and confirmed this week that an FIR had …

WazirX registers FIR for $234 million hacking case in New Delhi
7 months, 2 weeks ago

WazirX registers FIR for $234 million hacking case in New Delhi

Live Mint  

Indian Crypto exchange WazirX filed a first information report based on the previous police complaint connected to the cybersecurity attack, which cost the company $230 million in the form of crypto assets. The FIR was filed at PS Special Cell, PS Lodhi Colony in New Delhi, according to WazirX's post on the social media platform X on Tuesday, August 6. …

Crypto industry wants Wazir X to reconsider its recovery plan after $230 million loss
7 months, 3 weeks ago

Crypto industry wants Wazir X to reconsider its recovery plan after $230 million loss

New Indian Express  

BENGALURU: Crypto exchange WazirX's proposed plan to socialise its loss has not gone down well with the crypto industry, which wants it to reconsider the approach. WazirX recently faced a security breach leading to a $230 million loss and said, "We are implementing a fair and transparent socialized loss strategy to distribute the impact across all users equitably." Vikram Subburaj, …

WazirX crypto exchange hack: how much of the assets was lost, CEO Nischal Shetty’s announcement, and what happens next
7 months, 3 weeks ago

WazirX crypto exchange hack: how much of the assets was lost, CEO Nischal Shetty’s announcement, and what happens next

The Hindu  

Indian crypto exchange WazirX said approximately 45% of its crypto assets was affected by a cyber attack on July 18 that led to the loss of more than $230 million from one of its wallets. “As of June 10, 2024, at 6:30 PM, WazirX’s total holdings stood at an impressive ₹4,203.88 Crores, marking a staggering 79% surge compared to the …

Today’s Cache | WazirX’s post-hack woes continue; Elon Musk shares Kamala Harris deepfake; TikTok collected U.S. users’ views
7 months, 3 weeks ago

Today’s Cache | WazirX’s post-hack woes continue; Elon Musk shares Kamala Harris deepfake; TikTok collected U.S. users’ views

The Hindu  

WazirX’s post-hack woes continue More than one week after a hack that led to the theft of over $230 million in crypto assets from a multi-signature wallet, the Indian crypto exchange WazirX is struggling with the issue of resuming normal operations. Elon Musk shares Kamala Harris deepfake Experts are looking into the impact of AI-generated videos and audio in the …

WazirX crypto exchange hack and its bounty programme: what it means to India’s crypto investors?
7 months, 3 weeks ago

WazirX crypto exchange hack and its bounty programme: what it means to India’s crypto investors?

The Hindu  

On July 18, Indian cryptocurrency exchange WazirX was hit by a cyberattack that led to a loss of digital assets worth more than $230 million from one of its wallets. “The impact of the over $230M cyberattack is on the digital assets of our customers,” said WazirX in a blog post, adding that INR funds were not affected. But Liminal, …

WazirX Signers' Machine Not Compromised In $235-Million Breach, Findings Report Claims Liminal’s Infrastructure Was Likely Vulnerable
8 months ago

WazirX Signers' Machine Not Compromised In $235-Million Breach, Findings Report Claims Liminal’s Infrastructure Was Likely Vulnerable

ABP News  

WazirX has come out with a report on initial findings in the aftermath of the July 18 cyberattack. WazirX's report, dated July 25, states, "Our preliminary findings have not found any evidence that WazirX signers’ machines were compromised.” The exchange's team is continuing a detailed forensic analysis and plans to disclose complete findings once the investigation is concluded. Liminal Likely …

WazirX security breach: How did hackers steal $230 million in crypto?
8 months ago

WazirX security breach: How did hackers steal $230 million in crypto?

Firstpost  

Indian crypto exchange WazirX has temporarily paused all trading after hackers stole $230 million in funds on Thursday. Experts say the cybercriminal group Lazarus – which is affiliated with North Korea – could be behind the attack With 16 million customers, WazirX is one of India's most prominent crypto exchanges. Economic Times quoted Liminal as saying, “Our preliminary investigations show …

Crypto exchange WazirX offers $23 mn bounty to help recover stolen assets
8 months ago

Crypto exchange WazirX offers $23 mn bounty to help recover stolen assets

New Indian Express  

BENGALURU: Crypto exchange WazirX on Sunday announced the launch of a comprehensive bounty program to recover the stolen funds. WazirX also invited white hat hackers, blockchain forensics experts, and cybersecurity professionals from around the world to join this mission. We remain committed to transparency and collaboration, reinforcing our dedication to a secure and resilient digital finance ecosystem,” said Nischal Shetty, …

WazirX hacked; halts withdrawals as over $230 million stolen
8 months, 1 week ago

WazirX hacked; halts withdrawals as over $230 million stolen

The Hindu  

Indian cryptocurrency exchange WazirX claimed that it was “taking all necessary steps to protect the customer assets,” after a cyber-attack against one of its wallets resulted in the loss of more than $230 million. “Despite us taking all necessary steps to protect the customer assets, the cyber attackers appear to have possibly breached such security features, and the theft occurred,” …

Indian crypto exchange WazirX hit by security breach leading to user fund loss and $230 million in withdrawals
8 months, 1 week ago

Indian crypto exchange WazirX hit by security breach leading to user fund loss and $230 million in withdrawals

India Today  

Indian cryptocurrency exchange WazirX has faced a massive security breach. The crypto exchange has confirmed that the breach led to loss of user funds and $230 million in withdrawals. WazirX has shared the affected wallet address: 0x27fD43BABfbe83a81d14665b1a6fB8030A60C9b4 Screenshot: X/@lookonchain “The cyber attack stemmed from a discrepancy between the data displayed on Liminal's interface and the transaction's actual contents. Liminal Custody …

Big blow to crypto industry as WazirX falls victim to $235 million hack
8 months, 1 week ago

Big blow to crypto industry as WazirX falls victim to $235 million hack

New Indian Express  

BENGALURU: WazirX, which is the country's largest cryptocurrency exchange by volume, on Thursday paused INR and crypto withdrawals temporarily as it suffered a security breach. Crypto storage provider Liminal Custody in a statement said its preliminary investigations show that one of the self-custody multi-sig smart contract wallets created outside of the Liminal ecosystem has been compromised. It is also pertinent …

ED seizes crypto assets worth about ₹ 90 crore in ‘E-Nugget’ case
10 months, 3 weeks ago

ED seizes crypto assets worth about ₹ 90 crore in ‘E-Nugget’ case

The Hindu  

The Enforcement Directorate has taken possession of frozen crypto assets worth close to ₹ 90 crore, earlier kept in 70 accounts maintained with Binance, ZebPay, and WazirX. This is in connection with a money laundering case involving online gaming app ‘E-Nugget’, the agency said on Tuesday. App went dark Explaining the modus operandi, the agency said: “A series of enticing …

Trading volume on WazirX surges to over $400 mn in March 2024
11 months ago

Trading volume on WazirX surges to over $400 mn in March 2024

New Indian Express  

BENGALURU: Crypto exchange WazirX has witnessed the highest trading volume of over $400 million in March 2024, and in December 2023, it saw the highest sign-up rates. WazirX on Tuesday published its sixth Transparency Report for the period of October 2023 to March 2024, and it said trading volume saw an increase of 217% compared to the previous six months …

India's Financial Intelligence Unit Registers Over Two Dozen Crypto Service Providers
1 year, 3 months ago

India's Financial Intelligence Unit Registers Over Two Dozen Crypto Service Providers

ABP News  

In a notable development for the Indian cryptocurrency sector, over two dozen digital currency service providers have registered with India's Financial Intelligence Unit. Here are some key case studies and developments: Enforcement Directorate's Proactive Measures India's Enforcement Directorate has been actively investigating several money laundering cases through cryptocurrencies. Regulatory Framework Strengthening India has subjected cryptocurrency trading to anti-money laundering laws, …

How 5 Indian Americans allegedly laundered $30m in Cash-for-Bitcoin scam in New York
1 year, 5 months ago

How 5 Indian Americans allegedly laundered $30m in Cash-for-Bitcoin scam in New York

Hindustan Times  

Five Indian Americans are reportedly being investigated for an illegal $30million crypto exchange scheme operating in the heart of New York. 5 Indian Americans, Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Raju Patel have been accused of running this illegal Bitcoin exchange with an adept criminal finesse, bypassing the legal scrutiny. The report claims, this individual …

Indian Crypto Exchange WazirX banned over 2,400 users over unlawful activity
2 years ago

Indian Crypto Exchange WazirX banned over 2,400 users over unlawful activity

India TV News  

Indian Crypto-exchange WazirX, with reportedly around 10 million users, recently revealed in a report that the exchange had blacklisted 2,431 accounts after requests of blacklisting from Law enforcement agencies. The platform showed 100% compliance with LEA requests WazirX’s fourth Transparency report further stated that a total 431 requests for account blocking were made by the LEA’s across the globe which …

Crypto exchange WazirX blacklists over 2,431 accounts. Here’s why
2 years ago

Crypto exchange WazirX blacklists over 2,431 accounts. Here’s why

Live Mint  

Crypto exchange WazirX said that it has blacklisted more than 2,431 accounts before verifying transactions that were deemed unlawful from October last year to March 2023. According to a report released by WaxirX on Tuesday, as many as 431 requests were received from law enforcement agencies, against a total transaction volume of $390 million on the platform during this period. …

A critical move on crypto trade
2 years ago

A critical move on crypto trade

Hindustan Times  

India this week tweaked rules against money laundering to cover trade in cryptocurrencies, such as Bitcoin and Ethereum. The department of revenue issued a notification outlining new definitions to cover five specific scenarios: When cryptocurrency and fiat money is exchanged; when one form of crypto is exchanged with another; if such coins are transferred; the storing of virtual digital assets; …

WazirX transfers digital assets after Binance ultimatum
2 years, 1 month ago

WazirX transfers digital assets after Binance ultimatum

The Hindu  

The Indian crypto exchange WazirX said that international exchange Binance’s claims about it having no control over WazirX and its operator Zanmai are “false and unsubstantiated,” but has confirmed that it is transferring digital assets. In a blog post early this month, Binance said that unless Zanmai clarified its “false public statements,” it would have to stop using Binance’s wallet …

Indian crypto exchange WazirX publishes proof of reserves
2 years, 2 months ago

Indian crypto exchange WazirX publishes proof of reserves

The Hindu  

Indian crypto exchange WazirX has published its proof of reserves, or data that shows the assets it holds, according to a company press release on Wednesday. The crypto exchange that serves over 15 million customers shared that its total holdings equalled around 284.82 million USDT, via the Coin Gabbar analytics platform. By total value and percentage of holdings, WazirX’s top …

High tax on crypto may kill industry in India: Binance CEO
2 years, 4 months ago

High tax on crypto may kill industry in India: Binance CEO

Live Mint  

NEW DELHI: High taxes on cryptocurrency transactions in the country may “kill the industry” in India, Binance chief executive Changpeng Zhao said on Thursday. Addressing an event on the global fintech industry in Singapore, Zhao said the tax rate will likely be the cause for India’s crypto industry to be stifled. For instance, on WazirX, India’s largest crypto exchange by …

ED freezes Bitcoins worth ₹7.12 crore in E-nuggets case
2 years, 5 months ago

ED freezes Bitcoins worth ₹7.12 crore in E-nuggets case

The Hindu  

The Enforcement Directorate has frozen Bitcoins worth ₹7.12 crore and seized ₹1.65 crore in cash as part of its probe in the E-nuggets gaming app case. The probe is based on a First Information Report registered by the Kolkata Police in February last year against businessman Aamir Khan and others, following a complaint lodged by Federal Bank authorities before a …

Crypto exchange WazirX says ED has unfrozen its bank account
2 years, 6 months ago

Crypto exchange WazirX says ED has unfrozen its bank account

The Hindu  

The Indian cryptocurrency exchange WazirX said on Monday that its bank accounts has been unfrozen by India’s Enforcement Directorate, after the exchange’s “active cooperation” and “active anti-money laundering” checks led to blocking suspicious accounts. The ED had issued orders to freeze ₹64.67 crore worth of crypto exchange WazirX’s bank deposits in August this year. WazirX’s blog post published on Monday …

Crypto exchange WazirX bank accounts unfrozen by ED, to continue banking operations as usual
2 years, 6 months ago

Crypto exchange WazirX bank accounts unfrozen by ED, to continue banking operations as usual

India Today  

WazirX, an Indian cryptocurrency exchange, announced that the ED had unfrozen its bank accounts. "In cooperation with investigators, WazirX provided all necessary details & documents of the alleged accused companies that used the WazirX platform," the exchange said in a statement. More on this https://t.co/DU36aT2oJA — WazirX: India Ka Bitcoin Exchange September 12, 2022 Notably, on August 5, 2022, the …

Weekly Crypto Roundup: Indian search parties, stolen NFTs, and courtroom battles
2 years, 6 months ago

Weekly Crypto Roundup: Indian search parties, stolen NFTs, and courtroom battles

The Hindu  

Project founders and executives experienced greater turbulence than crypto traders. According to some reports, an Indian crypto exchange CoinSwitch Kuber, which was valued for around $1.9 billion last year, was searched by the Enforcement Directorate, as the exchange allegedly violated forex laws by acquiring shares to the tune of over ₹ 20 billion. The company’s newly released 2022 NFT report …

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