Shares of fintech major One97 Communications, which operates the payments platform Paytm, fell by up to 9% to a day’s low of Rs 773.90 on Friday, following reports that Paytm is among eight payment gateways being investigated by the Enforcement Directorate (ED) in a cryptocurrency scam.
In addition to Paytm, the ED is investigating Razorpay, PayU, Easebuzz, and other payment gateways. The agency has reportedly frozen around Rs 500 crore in their virtual accounts over the past two years, in connection with a cryptocurrency scam involving 10 Chinese nationals behind the HPZ Token operation in India, according to The Times of India.
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