ED searches crypto platforms Mudrex, Instadapp over ₹4,600-crore FEMA case

The Enforcement Directorate searched three premises in Bengaluru and one in Madhya Pradesh in a probe into alleged ₹4,600-crore FEMA violations involving cross-border transfers via cryptocurrencies, mainly stablecoins. The case concerns entities linked to Mudrex and Instadapp, accused of using virtual digital assets to bypass banking channels, and Bengaluru-based RPAS Technologies, which runs Mudrex and Saber.money.