Crypto Wallets Under ED Radar; PMLA Probe Reveals USDT Routed via CoinDCX Through Non-KYC Accounts

Enforcement Directorate (ED) is investigating large-scale crypto transactions involving USDT routed through CoinDCX using non-KYC accounts, indicating possible laundering of proceeds. The probe has led to the attachment of significant assets and suggests that misuse of crypto wallets via weak KYC controls could be a conduit for laundering illicit funds. The case underscores regulatory challenges in the crypto‑asset space and highlights the necessity for stricter compliance, transparency, and enforcement under the PMLA framework.