CoinDCX Co-Founders Detained Amid Allegations of Cryptocurrency Fraud

On March 21, 2026, CoinDCX's co-founders, Sumit Gupta and Neeraj Khandelwal, were detained by police in connection to an alleged cryptocurrency fraud case. According to reports, the FIR against them was filed over allegations of cheating and financial fraud involving cryptocurrencies.

The exchange has denied these allegations, stating that impersonators are using fake identities to cheat investors. In a statement, CoinDCX claimed that 'the FIR filed against our co-founders is false and appears to be part of a conspiracy involving impersonators posing as CoinDCX founders and cheating the public.'

CoinDCX has also taken steps to address this issue, publishing a notice on its website warning investors about the scam. The exchange emphasized that brand impersonation and related cyber frauds are increasing concerns in India's digital finance ecosystem.