Daily Digest
ED searches Mudrex, Instadapp over alleged FEMA violations
Published Thursday, October 29, 2026 · Updated October 29
Narrative Spectrum
- Single-Source Coverage — 1 source
What We Know — Key Points
Key points are extracted by an AI model and may contain errors or omissions. Always check the original sources.- The ED's preliminary findings indicate that unauthorized cross-border transfers and crypto balances held on foreign platforms amounted to more than ₹4,600 crore.
What Is Claimed — Perspectives
Single-Source Coverage
- The Hindu
India's Directorate of Enforcement (ED) conducted searches at premises linked to cryptocurrency platforms Mudrex and Instadapp, investigating alleged FEMA violations amounting to over ₹4,600 crore through unauthorized cross-border crypto transfers. The investigation targets entities accused of bypassing banking channels using virtual digital assets like stablecoins for international money transfers without RBI authorization.
- Read original →· Oct 29
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