Two co-founders of CoinDCX crypto exchange held on charges of fraud

The Thane constabulary person arrested 2 co-founders of cryptocurrency speech level CoinDCX successful transportation with an alleged fraud of ₹71.6 lakh, officials said connected Monday.

The enactment follows an FIR registered connected March 16 astatine the Mumbra constabulary presumption successful Thane against CoinDCX co-founders Sumit Gupta, Neeraj Khandelwal and others connected charges of cheating, transgression breach of spot and fraud, they said.

A 42-year-old security advisor, the complainant successful the case, alleged helium was duped of ₹71.6 lakh betwixt August 2025 and March this twelvemonth aft being lured by promises of precocious returns by investing successful a firm, purportedly associated with the cryptocurrency platform. He was besides offered a franchise opportunity, according to the police.

The complainant transferred ₹71,60,015 done currency and online transactions astatine antithetic times. However, the invested magnitude was not returned, and alternatively the funds were allegedly misappropriated, they said.

A constabulary squad apprehended the 2 accused from Bengaluru connected Saturday. They were aboriginal brought to Thane and produced connected Sunday earlier a section court, which remanded them to constabulary custody till Monday, elder constabulary inspector Anil Shinde said.

"A elaborate probe is underway to find if determination are much victims linked to this concern scheme," the authoritative added.

In a connection connected March 21, CoinDCX claimed that the FIR filed against its co-founders was “false and filed arsenic a conspiracy against CoinDCX by impersonators” who were cheating the public.

“We person taken cognizance of the information and published a announcement to nationalist astatine ample connected our website that CoinDCX is being targeted by fraudsters. The full conspiracy falsely claims that funds were transferred successful currency to 3rd enactment accounts which person nary narration to CoinDCX,” stated the company.

“We stay afloat committed to supporting authorities successful addressing specified misconduct. Between April 1, 2024 and January 5, 2026, we person reported implicit 1,212 fake websites impersonating http://coindcx.com,” it added.

This nonfiction was updated to see the company’s statement