Express
CoinDCX Co-founder Arrested by Indian Police for Alleged Fraud, Exchange Claims Impersonation by Fake Website
Summary: According to The Block, Sumit Gupta and Neeraj Khandelwal, co-founders of India's largest cryptocurrency exchange CoinDCX, have been arrested by the Thane police for alleged fraud and remanded in custody until today. The case stems from a report submitted by an insurance advisor who claimed to have lost around $85,000 through a fraudulent investment scheme ...
According to The Block, Sumit Gupta and Neeraj Khandelwal, co-founders of India's largest cryptocurrency exchange CoinDCX, have been arrested by the Thane police for alleged fraud and remanded in custody until today. The case stems from a report submitted by an insurance advisor who claimed to have lost around $85,000 through a fraudulent investment scheme related to CoinDCX. CoinDCX has called the report 'false,' stating that the fraud was carried out by impersonators through a fake website, not on their platform, and has reported over 1,200 fake websites impersonating their domain since April 2024. This arrest marks the second time in less than a year that individuals associated with CoinDCX have been detained by authorities, following the arrest of a software engineer linked to a $44 million hack on the exchange in July 2025. Founded in 2018, CoinDCX reached a valuation of $2.45 billion after receiving investment from Coinbase Ventures in October 2025.
Tags:
Link: CoinDCX Co-founder Arrested by Indian Police for Alleged Fraud, Exchange Claims Impersonation by Fake Website [Copy]
