ED freezes assets worth ₹370 crore of crypto exchange Vauld's India entity

The ED has frozen assets worth ₹370 crore of Flipvolt Technologies, the Indian entity of crypto exchange Vauld, in a money laundering case. "Lax KYC norms, loose regulatory control of allowing transfers to foreign wallets without asking any reason, non-recording of transactions on blockchains to save costs...has ensured...Flipvolt isn't able to give any account for missing crypto assets," ED said.