Cryptocurrency exchange platform CoinDCX on Saturday, March 21 denied allegations involving its co-founders Sumit Gupta and Neeraj Khandelwal, in an FIR filed against them.
In a statement on X, CoinDCX said that the FIR lodged was false as the cheating occurred through a website that impersonated the brand and identities of the founders.
"The FIR filed against our co-founders is false and filed as a conspiracy against CoinDCX by impersonators posing as Founders of CoinDCX and cheating the public at large. We have taken cognizance of the fact and published a notice to public at large on our website that CoinDCX is being targeted by fraudsters," the company said in an X post.
'No relation to CoinDCX'
Denying any connections with the CoinDCX brand, the company said that all the funds were transferred via a third party.
"The entire conspiracy falsely claims that funds were transferred in cash to third party accounts which have no relation to CoinDCX. Brand impersonation and related cyber frauds are an increasing concern in India's digital finance ecosystem, and we strongly condemn such actions," CoinDCX added.
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Over 1200 Fake Websites
The exchange further claimed that in nearly two years, it has reported 1,212 fake websites impersonating the brand.
"We remain fully committed to supporting authorities in addressing such misconduct. Between April 1, 2024 and January 5, 2026, we have reported over 1,212 fake websites impersonating http://coindcx.com. We are fully cooperating with the relevant law enforcement authorities. We remain committed to education and user awareness to safeguard our community against such threats," the X post read.
About CoinDCX
CoinDCX is a crypto investing app that was founded in 2018 by Sumit Gupta and Neeraj Khandelwal, alumni from IIT Bombay. The company specialises in crypto investing, crypto trading & crypto literacy, according to its website.
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