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 local media reports.
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In July, the crypto lender, which is backed by billionaire Peter Thiel, filed for protection from its Singaporean creditors. This came days after Vauld suspended withdrawals on its platform, after the market downturn led to significant withdrawals.
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Indian authorities have already frozen assets of exchange WazirX, and raided the properties of one of its directors. Indian media has also reported that the ED is probing at least 10 crypto exchanges for aiding foreign firms launder money through crypto.
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The ED made no official announcement on the matter and did not immediately respond to requests for comment.
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When asked for comment Vauld replied, “While we investigate this matter, we kindly request your patience and support, we will keep you updated as soon as we have more information on this.”
