CoinDCX Named in Fraud FIR After Investor Loses ₹71.6 Lakh

CoinDCX, India's largest cryptocurrency exchange by valuation, is facing trouble after being named in a fraud FIR filed by a 42-year-old insurance consultant who lost ₹71.6 lakh (approximately $85,000) to an investment scheme promising 10-12% returns.

The complainant alleged that the losses occurred between August 2025 and March 2026, but did not contact CoinDCX before filing the complaint. The exchange denied any wrongdoing, stating that impersonators operated an unrelated site to defraud the victim and falsely used the founders' identities.

CoinDCX said in a statement on X that the FIR was 'false and filed as a conspiracy' and that the fraud was carried out through the domain coindcx.pro, which has no connection to its official platform coindcx.com. The company stated that funds were diverted to third-party accounts unrelated to the exchange.

This latest case adds to a difficult period for CoinDCX, which suffered a $44.2 million hack in July 2025 after hackers used a fake job offer to install malware on an employee's laptop and drain funds from an internal operational wallet.