Binance Turns Up in India’s $500 Million-Plus Crypto Probe as a Route for Foreign Payouts
By Unchained
AI summary of the source article
India's Enforcement Directorate is probing over ₹5,000 crore in unauthorized crypto transfers involving foreign payouts via platforms including Binance and Bybit. The agency searched four premises under foreign-exchange laws, naming firms including RPFAS Technologies and Instadapp.
Key facts
- India's ED investigated over ₹5,000 crore ($527 million) in cross-border crypto transfers that allegedly occurred without authorization.
- Searches conducted under FEMA on Oct. 27 targeted premises linked to entities including RPFAS Technologies (Mudrex/Saber.money) and Instadapp (Fluid).
- The ED made no allegations against Binance or Bybit and announced no arrests, charges, or seizures.
Source excerpt · Unchained
India's foreign-exchange enforcer says it searched four premises in Bengaluru and Madhya Pradesh on Oct. 27 over more than ₹5,000 crore in crypto transfers that it says crossed India's borders without authorization. The post Binance Turns Up in India’s $500 Million-Plus Crypto Probe as a Route for Foreign Payouts appeared first on Unchained .