India, Nov. 7 -- The Enforcement Directorate (ED) conducted searches at three premises linked to crypto exchanges CoinDCX and Delta Exchange India (DEI) over alleged unauthorised cross-border transactions involving crypto derivatives and tokenised foreign stocks.

In a statement, the agency said the searches were conducted between November 4 and November 5 across Bengaluru. The crypto trading transactions in question run into thousands of crores of Rupees, as per ED.

"ED Bengaluru has conducted search(es) at three premises linked to Neblio Technologies Pvt. Ltd. (CoinDCX parent) and Excelium Technologies Pvt. Ltd.(which operates Delta Exchange India) under FEMA 1999 in the case of large scale unauthorised cross-border financial transacti...