We are fully cooperating, says cryptocurrency exchange WazirX after ED action
India Today
Hours after ED froze cryptocurrency exchange WazirX’s bank balances to the tune of Rs 64.67 crore, the firm said it was fully cooperating with the probe agency.
Hours after ED froze cryptocurrency exchange WazirX’s bank balances to the tune of Rs 64.67 crore, the firm said it was fully cooperating with the probe agency.
“We have been fully cooperating with the Enforcement Directorate(ED) for several days and have responded to all their queries fully and transparently,” said the Wazir X spokesperson.
However, the cryptocurrency exchange has refuted the ED allegations and said, “We do not agree with the allegations in the ED press release. We are evaluating our further plan of action.”
Also read: ED freezes Rs 64.7 crore in bank accounts of crypto exchange WazirX
The ED is carrying out a money laundering investigation against the cryptocurrency exchange.
On Friday, the ED conducted searches on the property owned by one of the directors of Zanmai Lab Private Limited, which owns the popular cryptocurrency exchange, WazirX.
The ED said, “Zanmai Labs Pvt Ltd, the company that owns WazirX Crypto Exchange, has created a web of agreements with, Crowdfire Inc. USA, Binance (Cayman Islands), Zettai Pte Ltd Singapore, to obscure the ownership of the cryptoexchange. Earlier, their managing director, Nischal Shetty, had claimed that WazirX is an Indian Exchange which controls all crypto-crypto and inr-crypto transactions and only has an IP and preferential agreement with Binance.”
