Per a press release from India’s Enforcement Directorate (ED), crypto exchange Binance is allegedly involved in a money laundering scheme created with WazirX. This entity operates as a crypto exchange platform in this country; one of its offices was raided on August 3rd, as a result of an ongoing investigation.
Binance’s CEO Changpeng Zhao has denied the allegations, stating that the company has no financial ties with WazirX and that it neither owns any equity in Zanmai Labs. According to the release from the Indian authorities, the latter is WazirX’s parent company and one of the main alleged actors in the money laundering scheme.
As a consequence of the raid, local authorities freeze over $8 million or 64.67 Indian Crore (INR) from bank balances associated