Multiple reports say the Enforcement Directorate (ED) carries out raids in Bengaluru connected to suspected violations of the Foreign Exchange Management Act (FEMA) involving crypto-related entities. The ED alleges that firms operating crypto platforms and associated brands may have breached FEMA provisions. The firms named across reporting include Transak, Carret, Xpat (formerly Remit2Any), Onramp.money and Onmeta. Sources describe the activity as part of an investigation into suspected irregularities tied to foreign exchange law compliance and related transactions. The cited figure across the reports is Rs 2,500 crore, which is presented as the scale involved in the alleged violations. The reports do not indicate, at this stage, any formal adjudication or prosecution outcome, and they focus on the ED raids and the underlying allegations. The ED’s action is part of ongoing enforcement efforts regarding cross-border and foreign exchange-related compliance in financial and crypto markets.