Two co-founders of cryptocurrency exchange CoinDCX have been arrested by the Thane police in connection with an alleged fraud case involving Rs 71.6 lakh, according to media reports. The company has claimed the charges are based on impersonation and misinformation.
According to police officials, an FIR was registered against CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal, along with others. The charges include cheating, criminal breach of trust and fraud.
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A police team tracked down the accused in Bengaluru and took them into custody on Saturday. They were later brought to Thane and produced before a local court, which remanded them to police custody.
The case is based on a complaint filed by a 42-year-old insurance advisor. He alleged that he was cheated of Rs 71.6 lakh between August 2025 and March 2026.
According to the complaint, he was promised high returns on investment in a firm said to be linked with the cryptocurrency platform. He was also offered a franchise opportunity, which further convinced him to invest.
The complainant transferred Rs 71,60,015 through a mix of cash and online transactions over several months. However, he claims that the money was never returned and was instead misused.
CoinDCX has strongly denied the accusations and called the FIR “false”. CoinDCX has denied the allegations and said the case is based on impersonation. In a statement posted on X, the company said, “The...
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