ED freezes Rs 370 crore of the bank, crypto balances of Bengaluru ‘shell company’

Source: Economics Times

The Enforcement Directorate (ED) said on Friday it has attached assets worth Rs 370 crore belonging to a Bengaluru-based company linked to the instant loan apps case. The assets were parked in bank accounts, payment gateway balances, and wallets on the Flipvolt crypto exchange. Flipvolt is the Indian arm of Singaporean crypto lender Vauld.

The ED said it had conducted searches at several premises linked to the company, Yellow Tune Technologies Pvt. Ltd, over three days starting August 8.

Vauld suspended all deposits and withdrawals on its platform in July, following the collapse of the TerraUSD stablecoin and its sister token Luna. Later that month, Vauld signed an indicative term sheet to be fully acquired by Nexo, another crypto lender, pending due diligence. In July last year, Vauld raised $25 million led by PayPal fou ..


  • Hi! This is kind of off topic but I need some guidance from an established blog.
    Is it very hard to set up your own blog? I’m not very techincal
    but I can figure things out pretty quick. I’m thinking about making my own but I’m not sure where to begin. Do you have
    any ideas or suggestions? Thanks

    My website watchmovieonline

Leave a Reply

Your email address will not be published. Required fields are marked *