CoinDCX Founders Face Investigation Over Crypto Impersonation Scam

The recent questioning of CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal by police is linked to an ongoing investigation into an impersonation scam. According to authorities, the scam involved individuals posing as CoinDCX officials and convincing victims to invest in a fake crypto scheme with promised returns of 10-12%. The victims reported being directed to a platform called CoinDCX.pro, which was falsely presented as connected to the real company.

CoinDCX has denied any involvement in the fraud, stating that the FIR is false and part of a wider impersonation scheme targeting the crypto brand. The company has confirmed that it does not run any kind of franchise or investment programs and has reported over 1,200 fake websites linked to such scams to India's cybersecurity agency.