News > ED raids 5 premises linked to CoinSwitch Kuber

ED raids 5 premises linked to CoinSwitch Kuber

India Today | 26/08/2022 12:03 PM | Click to read full article

Continuing its money laundering probe into the instant micro loan app scam, the Enforcement Directorate (ED) on Thursday searched five locations linked to cryptocurrency platform CoinSwitch Kuber.

Silicon Valley-based Andreessen Horowitz and Sequoia Capital India-backed CoinSwitch Kuber is the third exchange which is facing ED lens for the alleged diversion of proceeds of crime raised by 365 instant loan apps by offering loans at exorbitant rates of interest.

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