Media: India authorities froze Vauld assets of $ 46 million

The Office of the Law Enforcement of the Ministry of Finance of India blocked the cryptolending platform VAULD access to assets with an estimate of 370 crore (~ $ 46 million). This is reported by India Today.

The department did not give official comments. Vauld representatives in a conversation with Coindesk said they were studying the issue.

On July 4, the company announced the suspension of operations and possible restructuring due to financial difficulties. The next day, it became known that the competitor Nexo signed a preliminary agreement on the absorption with Vauld

Later, the media, citing documents for the court, found out that the volume of outstanding Vauld debt after these events amounted to $ 402 million. Of these, $ 363 million fell on retail investors.

According to Economic Times, the regulator is investigating the activities of ten crypto platforms for assisting foreign firms in laundering money using cryptocurrencies.

Recall that the Office of the Law Enforcement of the Ministry of Finance of India suspected WAZIRX of laundering $ 350 million. According to media reports, the department froze the exchange assets of $ 8.16 million as part of the case.

Claims to WAZIRX at the regulator arose back in 2021 – the exchange was suspected of violating currency rules.

In the same year, one of Binance divisions came in the view of the agency for the laundering of money laundering India.

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