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ED Unfreezes WazirX Bank Accounts
WazirX is now able to continue its banking operations
Photo Credit :
Enforcement Directorate
The Enforcement Directorate (ED) has unfrozen the bank accounts belonging to WazirX even as the investigations continue.
The news of unfreezing of WazirX banks accounts comes roughly a month after the federal agency said it conducted raids against a director of Zanmai Lab Pvt Ltd (which owns WazirX) and alleged he was "non-cooperative". The agency had subsequently frozen WazirX’s bank acocunts.
The latest unfreezing of accounts by ED has happened due to the crypto exchange’s cooperation.
WazirX is now able to continue its banking operations.
The ED is also conducting an investigation of fintech companies and instant loan apps. Some of these were using WazirX platform. The crypto platform has said it has been cooperating with the investigation and clarified it has no association with any of the alleged accused fintech and instant loan app.