India ED searches Mudrex and Instadapp in $525 million crypto probe

India's Enforcement Directorate searched premises linked to crypto exchange Mudrex and DeFi platform Instadapp as part of a probe into alleged cross-border crypto transactions exceeding ₹5,000 crore, or about $525 million. The agency disclosed the action in an Oct. 29 press release. Traders should watch for potential asset freezes, service disruptions at the named platforms, and a wider chilling effect on Indian crypto activity and cross-border flows.