CoinDCX Co-Founders Arrested in Rs 71 Lakh Scam Case

The Thane Police have made significant arrests in the case of cryptocurrency exchange platform CoinDCX. Co-founders Sumit Gupta and Neeraj Khandelwal were apprehended from Bengaluru on Saturday and brought to Thane for further investigation.

A 42-year-old insurance advisor had filed an FIR against the duo, alleging that he was cheated out of Rs 71.6 lakh by promises of high returns through investing in a firm associated with CoinDCX.

The complainant claimed that he was offered a franchise opportunity and transferred Rs 71,60,015 through cash and online transactions between August 2025 and March this year.

CoinDCX has released a statement claiming that the FIR is false and filed as a conspiracy against them by impersonators posing as founders. The company stated that it has reported over 1,212 fake websites impersonating coindcx.com since April 2024.