Quick Read
- CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal have been arrested in India.
- The arrests are linked to a fraud case involving approximately 1,212 fake websites impersonating CoinDCX.
- The company stated it is cooperating with the investigation and that the founders are not involved in wrongdoing.
NEW DELHI (Azat TV) – CoinDCX, a prominent cryptocurrency exchange in India, announced that its co-founders, Sumit Gupta and Neeraj Khandelwal, have been arrested by police. The arrests are reportedly linked to a fraud case involving the creation of numerous fake websites designed to impersonate the exchange.
CoinDCX Addresses Impersonation Website Allegations
According to information published by The Economic Times, CoinDCX stated that the First Information Report (FIR) stems from identity misuse. Scammers are alleged to have established approximately 1,212 fake websites that posed as legitimate CoinDCX platforms. The company emphasized its cooperation with the ongoing investigation and asserted that its founders are not involved in any illicit activities.
Cooperation with Authorities Amidst Investigation
The exchange has assured its users and the public that it is fully cooperating with law enforcement agencies to resolve the matter. CoinDCX maintains that the legal action is a result of fraudulent actors exploiting the company’s identity to deceive individuals through fake online presences. The company’s statement aims to clarify the situation and reassure stakeholders about the founders’ alleged non-involvement in the fraudulent scheme.
This development highlights the persistent challenges faced by digital asset platforms in combating sophisticated online fraud and maintaining user trust in the face of impersonation tactics.