COINDESK · 2026-11-12 10:12 UTC

India's financial crimes watchdog raids crypto exchanges CoinDCX and Delta over alleged illegal cross-border trades

India's Enforcement Directorate searched three Bengaluru premises linked to CoinDCX (operated by Neblio Technologies) and Delta Exchange India (operated by Excelium Technologies) on Nov. 4 and 5 under FEMA Section 37. The ED alleges both platforms routed customer money abroad for derivatives and tokenized shares of foreign firms without authorization, with cross-border flows put at tens of billions of rupees. CoinDCX's 24-hour trading volume is about $700,000 per Coingecko, far smaller than global peers; neither exchange had responded to CoinDesk's comment request.

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