Indian Authorities Freeze Vauld Assets Worth $46 Million Amid Investigation

India's Enforcement Directorate (ED), the government agency responsible for probing economic crimes, has frozen assets belonging to crypto exchange Vauld worth 3.7 billion rupees ($46.4 million). This action follows an ongoing investigation into the troubled crypto lender.

The Indian Enforcement Directorate (ED) froze the crypto and bank assets of Vauld, totaling INR 370 crore ($46 million). This move is part of a broader inquiry concerning potential financial irregularities.

A month before this, the Enforcement Directorate (ED) of India, a government agency that is responsible for probing financial crimes, had already begun investigating Vauld. This latest action saw them confiscate cryptocurrency and bank holdings of Vauld, valued at around $46,439,182.

The ED's investigation centers on allegations related to money laundering and other financial offenses. The frozen assets, which include both cryptocurrency and bank deposits, are currently under the control of the Enforcement Directorate (ED), as they delve deeper into the activities of the crypto exchange.

The freezing of Vauld's assets underscores the increasing scrutiny faced by crypto platforms in India. India's Enforcement Directorate, responsible for probing economic crimes, has frozen assets worth 3.7 billion rupees ($46.4 million) at crypto exchange Vauld, according to the latest reports. This development highlights the ongoing regulatory challenges within the rapidly evolving crypto landscape in the country.