CoinDCX Co-Founders Questioned Over Alleged $85,000 Fraud Scheme

India's largest cryptocurrency exchange by valuation, CoinDCX, is facing trouble after a recent fraud complaint. Co-founders Sumit Gupta and Neeraj Khandelwal were summoned for police questioning on March 21 in connection with the case.

The complainant, a 42-year-old insurance consultant from Mumbra, alleged losses of ₹71.6 lakh (approximately $85,000) after investing in a scheme that promised 10-12% returns between August 2025 and March 2026.

CoinDCX denied any wrongdoing, stating that the fraud was carried out through a fake website impersonating its platform, coindcx.pro. The company said funds were diverted to third-party accounts unrelated to the exchange, and that the victim had not contacted CoinDCX before filing the complaint.