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CoinDCX Co-Founders Questioned After FIR in Alleged ₹71 Lakh Crypto Scam

CoinDCX Co-Founders Questioned After FIR in Alleged ₹71 Lakh Crypto Scam

CoinDCX states that the case involves an impersonation scam tied to a fake website, with a complainant alleging losses of about 12 million yen over transactions reported between August 2025 and February 2026.

Fact Check
The statement accurately reflects the reported events and the company's official response. Multiple sources (Moneycontrol, Inc42) confirm that an FIR was filed involving a ₹71 lakh scam, the founders were questioned by Mumbai police on March 21, 2026, and CoinDCX publicly attributed the fraud to a fake website (coindcx.pro) impersonating their brand.
    Reference: 12
Summary

CoinDCX said reports of arrests involving co-founders Sumit Gupta and Neeraj Khandelwal are false and attributed the case to an impersonation scam carried out through a fake website allegedly linked to the exchange. According to the company, the complaint was filed by a 42-year-old insurance consultant who reported losses of about 12 million yen. The reported transaction period ran from August 2025 to February 2026. CoinDCX has maintained that the alleged fraud did not occur on its actual platform and is unrelated to wrongdoing by its founders, while also saying it has reported more than 1,200 fake websites using its domain since April 2024.

Terms & Concepts
  • FIR: A first information report, a formal police complaint that starts a criminal investigation in India.
  • Crypto scam: A fraud involving digital assets or crypto-related services, often using deception to obtain funds.
  • Spoofed website: A fraudulent site made to imitate a legitimate platform or domain in order to deceive users.