Dehradun: The Special Task Force (STF) of Uttarakhand Police has served a notice to two well-known crypto-currency exchanges operating in India for potential violations of foreign exchange rules by them.
The move follows the unravelling of the Rs 350 crore cyber fraud done by Uttarakhand Police a few days ago through lucrative schemes floated on mobile applications like ‘Power Bank’. Till date, STF has arrested two directors of shell companies for siphoning off invested money of Indian nationals to foreign countries through cryptocurrency.
“We have served notices under section 91 of CrPC to Wasir X and CoinDCX–both crypto-currency exchanges–regarding the suspicious transactions and sought details which may help in further investigation,” said Ajay Singh, senior superintendent of police (SSP) STF.
Incidentally, Enforcement Directorate (ED) had recently issued a show-cause notice to Wasir X in a matter involving digital currencies worth over Rs 2700 crore.
Ajay Singh further added that prima facie, it appears, on the basis of preliminary investigation, that the money was routed to China. “Both companies are co-operating in the investigation. More details are expected to come out soon ,” Singh said.
STF has also served notice to online payment gateway Razorpay in connection with a few dubious transactions done by a few companies registered with it.
Following the notice, Razorpay filed a complaint against 13 people, all senior executives of the companies, stating that they defrauded the payment gateway by deviating from the original category of business for which they had registered and started routing their transactions to collect payments from the ‘Power Bank’ app.