
CoinSwitch has initiated legal action against WazirX to recover trapped funds, according to reports. Concurrently, the Indian cryptocurrency exchange Mudrex secured a court order mandating the Indian government to shut down 38 websites that were exploiting its brand for fraudulent activities. In a broader regulatory effort, the Indian government has removed the cryptocurrency exchanges Bybit, Bitget, and Bitmart from the Play Store. This move is part of a significant crackdown on offshore crypto exchanges that have not complied with local regulations, particularly concerning the Prevention of Money Laundering Act. These developments reflect India's increasing scrutiny of the cryptocurrency sector amid rising concerns over scams and regulatory compliance.
