# India’s ED Searches Sites in Probe Into Alleged $524 Million Crypto Transfers

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/43966
Published: 2026-10-29T22:30:54.000Z
Updated: 2026-10-29T22:30:54.000Z
Section: Regulation

> The agency named Binance and Bybit as platforms used for alleged foreign payouts but announced no charges against either exchange.

Indian authorities are investigating alleged crypto transfers valued at $524 million after the Enforcement Directorate searched locations and identified Binance and Bybit as platforms involved in alleged foreign payouts.

The ED identified Binance and Bybit as platforms used in the alleged foreign payouts connected to the transfers. Its announcement described searches in connection with the probe and did not announce charges against either exchange. The announcement names the exchanges in relation to alleged payouts and identifies searches as the disclosed enforcement action.

The investigation concerns transfers totaling $524 million. Binance and Bybit are crypto exchanges, and the agency linked their platforms to alleged payouts rather than announcing charges against the companies. The announcement describes an investigative link and a search operation, not a charge against either exchange. The case puts alleged payout activity through two crypto platforms at the center of an Indian enforcement probe linked to $524 million in transfers.