CoinDCX Co-Founders Summoned Over Alleged Fraud Scheme

CoinDCX, India's largest cryptocurrency exchange by valuation, faces trouble after a fraud complaint was filed against its 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 between August 2025 and March 2026 that promised 10-12% returns.

CoinDCX denied any wrongdoing, stating that impersonators operated an unrelated site to defraud the complainant and falsely used the founders' identities. The exchange claimed funds were diverted to third-party accounts unrelated to the platform, and that the victim had not contacted CoinDCX before filing the complaint.