India’s Enforcement Directorate froze $8.16 million of assets belonging to WazirX, a Binance-owned cryptocurrency exchange that is one of the largest exchanges in India. According to the ED, its action was a result of an investigation into WazirX allegedly laundering the proceeds of a crime by allowing it to be converted into cryptocurrencies.The ED wrote in a press release, " ED found that large amounts of funds were diverted by the fintech companies to purchase crypto assets and then launder them abroad…(a) maximum amount of funds were diverted to WazirX exchange and the crypto assets so purchases have been diverted to unknown foreign wallets".