New Delhi, Nov. 8 -- The Enforcement Directorate (ED) has revealed that the agency has uncovered evidence for unauthorised international transactions of cryptocurrencies in a series of raids conducted in Bengaluru. According to the ED, the raids were carried out on 4 and 5 November at three premises linked to cryptocurrency platforms CoinDCX and Delta Exchange over allegations of unauthorised cross-border financial transactions in derivative trading in crypto tokens and Real World Asset (RWA) tokens.

The investigation was initiated based on information alleging large-scale FEMA violations by Neblio Technologies Private Limited, which operates CoinDCX in India, and Excelium Technologies Private Limited, which operates Delta Exchange.

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