CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal were called for questioning on March 21 after a First Information Report was filed in connection with an alleged Rs 71 lakh crypto fraud.
According to a report, the case stems from a complaint by a 42-year-old insurance consultant who said he was cheated through what was presented as a CoinDCX-linked investment opportunity. According to people familiar with the matter, the questioning followed an FIR lodged at a police station in the Mumbai region earlier this month.
CoinDCX has denied wrongdoing and said the fraud did not occur through its platform.
In a statement posted on X, CoinDCX said the complaint was based on a scheme run through a fake website that copied the company’s branding and used the identities of its founders without authorization.
The exchange said the alleged scam involved transfers to third-party accounts unrelated to CoinDCX, rejecting claims that the funds moved through its own systems.
Between April 1, 2024, and January 5, 2026, CoinDCX said it identified more than 1,212 fake websites impersonating its official platform.
CoinDCX said it is cooperating with authorities and remains committed to supporting the investigation into the alleged fraud.
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