The post CoinDCX Founders Arrested in Fraud Case; Company Blames Impersonators appeared on BitcoinEthereumNews.com.

TLDR: CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal were arrested by Thane Police over an alleged Rs 71.6 lakh fraud. The complainant was promised high returns and franchise opportunities linked to CoinDCX between August 2025 and February 2026. CoinDCX says fraudsters impersonated its founders and diverted funds to accounts unrelated to the exchange. Between April 2024 and January 2026, CoinDCX reported over 1,212 fake websites impersonating its official domain. CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal were arrested by Thane Police in a financial fraud case. Both were detained in Bengaluru and produced before a court. The court remanded them to police custody until March 23. The case involves an alleged fraud of Rs 71.6 lakh tied to fake promises of high returns and franchise opportunities related to CoinDCX. Fraud Allegations and Police Action An FIR was filed against six individuals, including the two co-founders. The complainant, an insurance advisor, said he was approached between August 2025 and February 2026. He was promised high returns and franchise opportunities linked to CoinDCX. Neither the promised returns nor the franchise were ever delivered to him. Police confirmed that the accused collected money through cash and bank transfers. Authorities have invoked provisions of the Bharatiya Nyaya Sanhita in the case. The investigation is currently active and ongoing. Both co-founders remain in police custody pending further proceedings. CoinDCX denied any wrongdoing on the part of the company or its leadership. The firm stated the FIR is tied to fraudsters who impersonated its founders. These impersonators allegedly diverted collected funds to unrelated third-party accounts. The accounts cited in the complaint bear no connection to CoinDCX. In response, CoinDCX took to its official social media account to address the public directly. The company stated that “the FIR filed against our co-founders is false and appears to…

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Filed under: News - @ March 22, 2026 4:20 pm