Cryptocurrency exchange WazirX, announced that the Enforcement Directorate (ED) has unfrozen its bank accounts, which had been frozen as part of the agency’s investigation into illegal Chinese loan apps.
“WazirX is now in a position to resume normal banking operations,” the exchange said in a statement. The ED froze the crypto exchange’s bank assets worth INR 64.67 Cr last month. According to a statement issued at the time, the investigation agency conducted searches on one of the directors of Zanmai Labs Pvt Ltd, the owner of WazirX, and issued an order freezing bank balances totaling INR 64.67 Cr. According to WazirX’s most recent statement, the ED is investigating 16 fintech companies and instant loan providers.