ED Searches Mudrex and Instadapp Linked Premises
The Enforcement Directorate, a central agency that probes money laws, has searched premises linked to Mudrex and Instadapp. The searches relate to alleged FEMA violations worth ₹4,600 crore. The report is based on early information, so details may change as the probe continues.
Context
Context: Mudrex is an Indian app for investing in crypto assets, and Instadapp is a platform linked to decentralised finance. FEMA, the Foreign Exchange Management Act, governs cross-border money flows, so ED probes usually focus on how funds move in and out of India.
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