India’s Enforcement Directorate (ED) has searched several locations in Bengaluru and Madhya Pradesh over suspected illegal cross-border transfers using USDT/USDC stablecoins through the platforms Mudrex and . According to Crypto India, funds totaling around 5,000 crore rupees in the case are linked to Binance and Bybit, indicating that India is tightening its grip on crypto on/off-ramps.