Crypto exchange Vauld has released an announcement stating that the company respectfully disagrees with the freeze order of the Enforcement Directorate (ED) of India.
The platform says that the ED has frozen crypto assets worth approximately Rs 2040 million, despite their cooperation and compliance with the investigation.
It was previously reported that the ED has frozen assets worth Rs 370 crore of the crypto exchange.
However, according to Vauld’s announcement ED passed an order freezing crypto assets in the pool wallets of the company, amounting to a value much higher than Rs 370 crore.
The exchange states that the order is specific to a single customer who pursued the company’s service for a ‘brief period’ of time. The account of that customer was subsequently deactivated.
The company says they follow strict KYC requirements in every country. They are currently seeking legal advice to decide their future moves. The exchange promises to extend its cooperation to the ED.
