Indian Authorities Freeze Nearly $46M in Assets of Crypto Lender Vauld: Report
The Peter Thiel-backed project had filed for bankruptcy in Singapore last month.
India's Enforcement Directorate, a government agency that is responsible for probing financial crimes, has frozen assets worth 3.7 billion rupees ($46.4 million) at crypto exchange Vauld, according to local media reports.
In July, the crypto lender, which is backed by billionaire Peter Thiel, filed for bankruptcy protection from its Singaporean creditors. That came days after Vauld suspended withdrawals on its platform, following a market downturn that led to significant withdrawals.
Indian authorities have already frozen assets of exchange WazirX, and raided the properties of one of its directors. Indian media has also reported that the ED is probing at least 10 crypto exchanges for helping foreign firms launder money through crypto.
The ED made no official announcement on the matter and didn't immediately respond to requests for comment.
Vauld said it will provide an update when it has more information.
https://www.coindesk.com/policy/2022/08/12/indian-authorities-freeze-nearly-46m-assets-of-troubled-crypto-lender-vauld-report/