The Indian Directorate of Enforcement froze $46.4 million in the accounts of Vauld's Indian branch until the exchange can represent the criminal continues it moved out of the country.
India's Directorate of Enforcement (ED) reported Friday that it has frozen the monetary records of Bengaluru-based monetary services company Yellow Tune Technologies, some of which were held by Flipvolt crypto exchange, the Indian part of Singaporean Vauld. The move is connected to a continuous examination concerning money laundering by China-connected instant loan companies organizations. This is the second time this week that the agency has made a move in the crypto circle regarding that case.
The monetary guard reported it was freezing Yellow Tune's bank funds, and payment gateway. balances in the Flipvolt cryptocurrency exchange for a sum of 3.7 billion rupees, or $46.4 million after discovering that the company was a shell entity incorporated by two Chinese nationals using pseudonyms. As per newspaper accounts, the ED endured three days looking through premises related to Yellow Tunes.
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