The Enforcement Directorate (ED), a law enforcement and economic intelligence department of the Indian government, has frozen assets of another cryptocurrency exchange. The assets of cryptocurrency exchange Vauld are worth roughly INR 370 crore ($46,439,181). Last month, Vauld stopped accepting deposits and withdrawals. According to reports, the Indian law enforcement body is looking at more than 10 crypto exchanges. The agency revealed on Friday that it had searched several Yellow Tune Technologies locations in Bangalore and had issued them an order to freeze all bank accounts, payment gateway accounts, and cryptocurrency balances on Flipvolt Technologies’ cryptocurrency exchange – the India-registered entity of Vauld, and a cryptocurrency trading, borrowing, and lending platform.
India Freezes Peter Thiel-Backed Vauld’s Crypto and Bank Assets Worth $46 Million