WazirX said the Enforcement Directorate has released the bank accounts it froze, under its money-laundering investigation.
“Due to the active cooperation extended by WazirX and active anti-money laundering checks that led to the blocking of suspicious accounts, the ED has unfreezed the bank accounts of WazirX,” the crypto exchange said in a statement on Monday. “WazirX is now in a position to continue its banking operations as usual.”
The investigative agency had last month frozen Rs 64.67 crore worth accounts of WazirX for allegedly assisting money laundering. This was in relation to the probe against Chinese money-lending applications, which had allegedly used crypto exchanges such as WazirX to launder proceeds of their fraud.
WazirX clarified that it has no association with any of the alleged accused fintech and instant loan app entities that appear to be the subject of the ED investigation and is carrying out the know-your-customer and anti-money laundering checks despite having no legal obligation to do so.
“WazirX is like any other intermediary whose platform may have been misused,” the statement said.
Also, the crypto exchange said most of the users whose information was sought by the ED were already identified as suspicious by WazirX internally and were already blocked in 2020-2021.