India's ED conducts searches in $524 million cryptocurrency foreign exchange violation probe
India's Enforcement Directorate raided premises linked to crypto platforms Mudrex and Instadapp in Karnataka and Madhya Pradesh, investigating alleged cross-border remittances worth over ₹4,900 crore ($524-525 million) in violation of foreign exchange laws. The agency identified Binance and Bybit as platforms allegedly used for foreign payouts, though no charges have been announced against the exchanges.
