Indian authorities unfreeze millions in locked WazirX bank accounts

Indian authorities unfreeze millions in locked WazirX bank accounts


The Enforcement Directorate of India (ED) unfroze the bank accounts of the Indian crypto exchange WazirX, according to a statement from the exchange released on Sept. 12.

WazirX says it has been cooperating with local authorities during their anti-money laundering (AML) investigation by providing all of the necessary documents and details requested. The investigation targeted 16 fintech companies and instant loan apps, some of which solicited services from the exchange.

The exchange, however, said it has a no-tolerance stance towards any illegal activities on the platform. Additionally, it said that most of the targeted users in the ED investigation had already been flagged as suspicious by WazirX and blocked in 2020-2021.

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WazirX told Cointelegraph the case is still under investigation but funds have been unfrozen due to no

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