India’s financial crimes investigation agency has raided cryptocurrency exchanges, CoinDCX and Delta Exchange, as part of an investigation into alleged illegal cross-border transactions.

The action highlights growing regulatory scrutiny of crypto platforms in India particularly their compliance with foreign exchange rules and controls on cross-border fund transfers.

The Enforcement Directorate (ED) said the searches, conducted on November 4 and 5 2026 in Bengaluru, targeted three premises linked to the companies operating the two exchanges.

The agency alleges that CoinDCX converted customers’ rupee deposits into USDT and routed funds to overseas exchanges, including

• Binance,
• KuCoin,
• Gate.io…