INR 5,000 Cr Crypto Probe: Multiple ED Raids Put Mudrex, Instadapp & Saber.Money Under Scanner
In a major development, the Enforcement Directorate (ED) is examining alleged cryptocurrency-linked cross-border transactions worth approximately INR 5,000 crore ($585 million). The investigation puts Mudrex, Instadapp and Saber.money under the scanner. The ED, on October 27, 2026, conducted raids across four premises in India, three in Bengaluru, Karnataka, and one in Madhya Pradesh, under the Foreign Exchange Management Act (FEMA). The latest operation comes after the ED investigated CoinSwitch Kuber. In August 2022, the ED conducted raids across premises associated with the crypto exchange over alleged violations of India's forex laws.
Original
