As many as 10 crypto exchanges were under the lens of the ED for their alleged involvement in money laundering of around Rs 10 billion.
In a blog post, the crypto lending platform said the current market climate has led to a significant amount of customer withdrawals in excess of $197.7 million since June
The crypto market, at large, has fallen by about a third since it hit its peak sometime in November last year and left many investors poorer.
The crypto exchange is in discussions with potential investors in the Vauld group of companies. It is also planning to apply to the Singapore courts for a moratorium.