In connection with a money laundering investigation ED has frozen bank accounts of cryptocurrency exchange WazirX totaling Rs 64.67 crore.
On August 3 in Hyderabad, the federal agency claimed it conducted raids against a director of Zanmai Lab Pvt Ltd, which owns WazirX, and claimed they were "non-cooperative."
The agency's inquiry into the cryptocurrency exchange is connected to an ongoing probe into many Chinese loan apps (mobile applications) operating in India.
Last year, the organisation accused WazirX of violating the Foreign Exchange Management Act (FEMA).