CoinSwitch Kuber CEO response after ED Raid – Katoch Tubes

Coinswitch kuber in trouble?

About CoinSwitch Kuber

Backed by Sequoia Capital, CoinSwitch Kuber is an Indian crypto exchange that allow users to trade cryptos using INR

CoinSwitch Kuber Raid

Following up with the case of money laundering CoinSwitch Kuber was raided by ED in 7 different location across India.

Why This Raid?

ED is searching for the evidence of possible money laundering via crypto exchange by Instant loan apps with links to China

CEO Response

CoinSwitch Kuber CEO Ashish Singhal clarified in a tweet that CoinSwitch will fully cooperate in the ED investigation

Earlier WazirX Raid

WazirX is the most troubled exchange with links to possible scam. One of its director's accounts has been frozen by ED worth 64.67 cr

Instant Loan Scam

Beware of Chinese Instant loan apps. They charges high interest & harass users by hacking their devices. Delete such apps from your mobile ASAP

Are User Funds safe?

ED investigation is underway but user's funds are safe. It's over 1000 cr money laundering case by loan apps using crypto as medium

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