CoinDCX Co-Founders Arrested Over Allegations of ₹71 Lakh Fraud

CoinDCX Co-Founders Arrested in ₹71.6 Lakh Cryptocurrency Fraud Case

Summary: Two co-founders of cryptocurrency exchange platform CoinDCX, Sumit Gupta and Neeraj Khandelwal, have been arrested in connection with an alleged ₹71.6 lakh fraud case in Thane, Maharashtra.

Background: An insurance advisor, 42 years old, filed a complaint on March 16 with the Mumbra police station against CoinDCX co-founders and others on charges of cheating, criminal breach of trust, and fraud. The complainant alleged that he was duped of ₹71,60,015 between August 2025 and March this year after being lured by promises of high returns by investing in a firm associated with CoinDCX.

Investigation: A Mumbra police team apprehended Gupta and Khandelwal from Bengaluru on Saturday and produced them in a local court on Sunday, which remanded them in police custody till Monday.

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Company Response: CoinDCX denied the allegations, claiming that the FIR was false and filed as a conspiracy against the company by impersonators posing as its founders. The company stated that it has taken cognizance of the fact and published a notice on its website warning the public about the impersonation and related cyber frauds.

Key Statistics:

• ₹71.6 lakh: Amount allegedly misappropriated from the complainant
• ₹71,60,015: Amount transferred by the complainant through cash and online transactions
• 1,212: Number of fake websites impersonating coindcx.com reported by CoinDCX between April 1, 2024 and January 5, 2026