Following ED raids, WazirX reports that withdrawals and deposits are operating normally.

WazirX reported deposits and withdrawals are going as normal the day after the Enforcement Directorate (ED) raided one of its directors and frozen bank balances to the tune of Rs 64.67 crore . WazirX said were evaluating our next course of action and will always act in the best interest of users .

Mumbai (Maharashtra) India-August 6: WazirX, a crypto-currency exchange, reported that deposits and withdrawals are going as normal the day after the Enforcement Directorate (ED) raided one of its directors and frozen bank balances to the tune of Rs 64.67 crore.We are evaluating our next course of action and will always act in the best interest of users, WazirX said in a tweet.In another tweet, the crypto-currency exchange operator said it has been actively cooperating with the Enforcement Directorate (ED) for several days and has responded to all their concerns fully and transparently.We disagree with the ED press release's assertions.

The Directorate of Enforcement (ED) announced on Friday that it had conducted searches on one of the directors of Zanmai Lab Pvt Ltd, the owner of WazirX, and issued a freezing order to freeze their Bank balances of Rs 64.67 crore, but that despite the fact that he is not reporting the transactions relating to the crypto assets obtained from the proceeds of crime of Instant Loan APP fraud, the organization said in a statement that it has made no attempts to find these It has actively assisted around 16 accused fintech firms in laundering the proceeds of crime using the crypto route by encouraging anonymity and lax AML rules.According to the enforcement department, equivalent movable assets in the amount of Rs 64.67 crore lying with WazirX were frozen under the PMLA, 2002.A Money Laundering investigation has been launched by the Enforcement Directorate against a number of Indian non-banking finance companies (NBFCs) and their fintech partners for evading RBI guidelines and by using tele-callers who misuse personal information and use abusive terms to extort high-interest rates from the loan takers.