India’s ED freezes 46 million of Vauld’s funds on moneylaundering charges

Singapore-based Crypto Lender Vauld is facing money laundering charges in India after $46.5 million (3.70 billion Indian rupees) was frozen from its local entity, Flipvolt Technology. India’s Enforcement Directorate (ED) confirmed in an Aug. 12 statement that it is investigating Vauld. According to the regulator, 23 entities under probe by the ED had reportedly deposited 3.70 billion rupees into Yellow Tune’s crypto wallet, which was subsequently sent to foreign wallet addresses without following due process and raising suspicious transaction reports (STRs).