CoinDCX Co-Founders Questioned Over Fake Website Fraud

CoinDCX, India's largest cryptocurrency exchange by valuation, is facing a new challenge after being summoned for police questioning following a fraud complaint linked to a fake website impersonating the platform.

The co-founders, Sumit Gupta and Neeraj Khandelwal, were questioned by Thane Police in connection with a First Information Report filed on March 16. The complainant, a 42-year-old insurance consultant from Mumbra, alleged losses of ₹71.6 lakh (roughly $85,000) after investing in a scheme between August 2025 and March 2026 that promised 10-12% returns.

CoinDCX denied any wrongdoing, saying the fraud was carried out through the domain coindcx.pro - a site with no connection to its official coindcx.com platform. The company claimed funds were diverted to third-party accounts unrelated to the exchange, and that the victim had not contacted CoinDCX before filing the complaint.

The FIR names six individuals, including the two founders alongside Akash Rana, Rahul Gupta, P. Vasudev, and Shivam Sharma. This latest case adds to a difficult period for CoinDCX, which suffered a $44.2 million hack in July 2025.