Indian police questioned CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal in Bengaluru regarding a fraud investigation. The case originates from a complaint in Thane where scammers impersonated the exchange, luring victims with fake 10–12% return promises on a platform called CoinDCX.pro. CoinDCX has denied all allegations, stating the FIR is false and part of a larger impersonation conspiracy, and reported over 1,200 fake websites to authorities.
Police recently questioned CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal at a station in Bengaluru. This investigation is linked to a complaint filed in Thane, where several individuals were named in a First Information Report.
According to the complaint, fraudsters posed as CoinDCX officials to convince victims to invest in a fake crypto scheme. They promised returns of 10-12% and used promotional materials to appear legitimate.
One victim, an insurance consultant, claimed he and two others lost a total of approximately $86,000 between August 2025 and March 2026. The victims were directed to a platform called CoinDCX.pro, falsely presented as connected to the real company.
After making investments, they were unable to withdraw funds and the alleged scammers became unreachable. The case highlights growing risks of impersonation scams in the crypto industry.
CoinDCX has denied any involvement in the fraud. The company stated “The FIR filed against our co-founders is false and filed as a conspiracy against CoinDCX by impersonators.”
The firm explained fraudsters have been posing as its executives and misleading the public. It confirmed the complainant has no connection to its official platform and that it does not run any franchise or investment programs.
CoinDCX added it is working with authorities to resolve the case. The company also revealed it has reported more than 1,200 fake websites linked to such scams to India’s cybersecurity agency.
