The searches, which took place on June 17, were conducted at six premises linked to Transak, Carret, Xpat, BuyHatke and Onmeta

As part of the investigation, the Enforcement Directorate has frozen multiple bank accounts used for undertaking transfers, having balances worth ₹6 Cr

ED said that its probe revealed that none of the five entities were designated as authorised entities by the RBI for offering cross-border transfer of payments via VDAs

The Enforcement Directorate (ED) conducted searches at multiple premises linked to five Bengaluru-based platforms in connection with alleged unauthorised cross-border transfer of money via cryptocurrencies.

In a press statement, ED said that the searches, which…