WazirX, linked to the world’s largest digital currency exchange Binance, said on Monday that India’s financial crime-fighting agency unfroze its bank accounts after more than a month.
Last year, the Federal Enforcement Directorate (ED) launched its investigation into the company for alleged violations of foreign exchange regulations and froze its assets worth Rs 646.70 crore (8.16 crore). Dollars).
WazirX said it is now positioned to continue its banking operations as usual.
“After an in-depth internal investigation, WazirX noticed that most of the users whose information was sought by ED were already identified as suspicious by WazirX internally and were blocked in 2020-2021,” the company said in a blog.
WazirX said it has cooperated with the investigators by providing all the necessary details, information, and documents of the alleged accused companies who used its platform.
After announcing its acquisition of WazirX in 2019, Binance Chief Executive Changpeng Zhao said the transaction was never completed last month.
Nischal Shetty, the co-founder of WazirX, has reiterated that Binance acquired WazirX.