ED Investigates Rs 4,600 Crore Unauthorised Cross-Border Crypto Transfers in India
The Enforcement Directorate (ED) conducted searches at four premises in Bengaluru and Madhya Pradesh investigating alleged violations of the Foreign Exchange Management Act (FEMA) involving unauthorised cross-border cryptocurrency transfers worth around Rs 4,600-5,000 crore. The probe targets Bengaluru-based RPFAS Technologies Private Limited, which operates Mudrex and Saber.money platforms, and the DeFi protocol Instadapp. The ED alleges these entities facilitated cross-border transfers using stablecoins like USDT and USDC without Reserve Bank of India approval, involving shell companies and foreign crypto platforms such as Binance and Bybit.
First-hand measurement across 4 sources
We measured how 4 outlets covered this story. No outlet gave this story a measurable political slant — there is no left–right reading to report. Overall sentiment is negative (39/100). Lens Score 56/100.
Outlets measured: thehindu, inc42media, moneycontrol, deccanherald. See how each one headlined and framed the same story in the source comparison below.
AI Analysis
Sentiment was consistent across outlets (32–47/100), indicating broadly factual reporting rather than editorialising.
Coverage timeline
deccanherald broke this story on 29 Oct, 02:15 pm. Other outlets followed.