India Investigates $585 Million in Crypto Remittances Involving Mudrex and Others
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AI-assisted source synthesis · not an independent investigation.
On October 29, 2026, Finance Magnates reported that India’s Enforcement Directorate is investigating approximately $585 million in cross-border cryptocurrency transactions involving Mudrex, Saber.money, and Instadapp. Investigators allege that unauthorized fund transfers may have occurred in the transactions. On October 27, investigators searched four locations under the Foreign Exchange Management Act (FEMA). The Enforcement Directorate stated that RPFAS Technologies was involved in approximately $538 million in suspected noncompliant transactions, while Instadapp was involved in approximately $40 million in suspected noncompliant transactions. The reports have not disclosed the investigation’s conclusions or any subsequent action.
AI-written from reports · updated 2 hours ago
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- Finance MagnatesSelectedIndia’s Enforcement Directorate investigates $585M crypto remittance case involving Mudrex, Saber.money and Instadapp
India’s Enforcement Directorate is investigating approximately $585M in cross-border cryptocurrency transactions involving Mudrex, Saber.money and Instadapp, alleging unauthorized fund transfers. Investigators searched four locations on 27 October under FEMA and said RPFAS Technologies was involved in $538 million and Instadapp in $40 million in suspected non-compliant transactions.
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