ED raids Bengaluru company over alleged ₹5000 crore crypto fraud; transactions conducted without registration

ED officials raided a company named RPF AS Technologies Ltd. in Bengaluru, uncovering alleged illegal cryptocurrency transactions worth ₹5000 crore. The investigation found that the company conducted transactions using platforms like Mudrex and Saber.Money from 2018, without proper registration as required by RBI rules. The ED stated that the company attracted customers through advertisements on social media and maintained accounts with Indian commercial banks.