Indian Law Agency Freezes $8.1 Million Of WazirX Funds As Part Of Anti-Money Laundering Probe

The Enforcement Directorate (ED), tasked by the Indian government to probe major financial crimes, announced Friday it had frozen assets worth $8.1 million of cryptocurrency exchange WazirX as part of an investigation into instant personal loan fraud. WazirX Transferred Laundered Money to Unknown Crypto Wallets The ED claimed WazirX assisted 16 fintech firms, already under investigation by the agency, in laundering proceeds of crime by transferring the money to unknown foreign wallets, as the crypto exchange encouraged obscurity and had lax anti-money laundering (AML) norms.