CoinDCX Co-Founders Arrested in Alleged Investment Fraud Case

Indian police have arrested the co-founders of CoinDCX, India's largest cryptocurrency exchange by valuation, in connection with an alleged investment fraud case.

The arrests were made after a 42-year-old insurance consultant filed a First Information Report alleging that he lost around $85,000 after being promised high returns and franchise rights linked to CoinDCX between August 2025 and February 2026.

CoinDCX has denied any wrongdoing, stating that the alleged fraud involved impersonators using a copycat website rather than its platform. The company has reported over 1,212 fake websites between April 1, 2024, and January 5, 2026.