CoinDCX Co-Founders Questioned Over Fraud Complaint Linked to Fake Website
CoinDCX, India's largest cryptocurrency exchange by valuation, is facing another challenge after being hit by a $44M hack last year. The co-founders of CoinDCX, Sumit Gupta and Neeraj Khandelwal, were summoned for police questioning on March 21 following a fraud complaint linked to a fake website impersonating the platform.
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 impersonators operated an unrelated site to defraud the complainant and falsely used their identities. The company claimed that funds were diverted to third-party accounts unrelated to the exchange, and the victim had not contacted CoinDCX before filing the complaint.