{"id":893913,"date":"2026-03-24T04:12:09","date_gmt":"2026-03-24T09:12:09","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/24\/coindcx-founders-get-pulled-into-fraud-case-linked-to-fake-crypto-websites\/"},"modified":"2026-03-24T04:12:09","modified_gmt":"2026-03-24T09:12:09","slug":"coindcx-founders-get-pulled-into-fraud-case-linked-to-fake-crypto-websites","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/24\/coindcx-founders-get-pulled-into-fraud-case-linked-to-fake-crypto-websites\/","title":{"rendered":"Coindcx Founders Get Pulled Into Fraud Case Linked To Fake Crypto Websites"},"content":{"rendered":"
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Something a bit messy is unfolding around CoinDCX right now, and it\u2019s not the usual kind of crypto news.<\/strong><\/em><\/p>\n

According to The Economic Times, the exchange\u2019s co-founders, Sumit Gupta and Neeraj Khandelwal, were arrested by police in connection with a fraud case. The whole situation is tied to impersonation websites, basically fake platforms pretending to be CoinDCX.<\/p>\n

At first, it might sound like the company itself is involved. But that\u2019s not exactly how CoinDCX is explaining it.<\/p>\n

From their side, they\u2019re saying this is more about scammers misusing their name rather than anything happening internally. Still, once founders get linked to a police case, it\u2019s bound to get people talking.<\/p>\n

Fake Investment Platform Promised Returns And Led To Major Loss<\/strong><\/span><\/h2>\n

The issue seems to trace back to a fake website operating under the name \u201ccoindcx.pro.\u201d<\/p>\n

From what\u2019s been reported, a consultant based in Mumbai ended up losing \u20b971.6 lakh (around $85,000) after putting money into the platform. The site reportedly promised returns of about 10\u201312%, which, honestly, already sounds a bit too good to be true.<\/p>\n

But these kinds of setups are not new in crypto. Scammers often create websites that look almost identical to real platforms, then use attractive offers to pull people in.<\/p>\n

In this case, it seems the impersonation worked well enough to convince someone to invest a significant amount.<\/p>\n

And that\u2019s where things started getting serious.<\/p>\n

Police Step In And Question The Founders After FIR Is Filed<\/strong><\/span><\/h2>\n

After the complaint, an FIR was filed, and somehow that ended up linking the CoinDCX founders to the case.<\/p>\n

As seen in this update, both Sumit Gupta and Neeraj Khandelwal were called in for questioning by Thane Police on March 21.<\/p>\n

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According to The Economic Times, CoinDCX, one of India\u2019s largest crypto exchanges, said its co-founders Sumit Gupta and Neeraj Khandelwal were arrested by police in connection with a fraud case involving impersonation websites. The company said the FIR stemmed from identity\u2026 pic.twitter.com\/qItkx9WrTN<\/a><\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) March 22, 2026<\/a><\/p>\n<\/blockquote>\n

From there, things escalated pretty quickly, with reports saying they were arrested as part of the investigation.<\/p>\n

Now, being named in something like this doesn\u2019t always mean direct involvement, but it does make the situation more complicated.<\/p>\n

At this point, it looks like authorities are trying to figure out how the scam connects back to the brand and whether there\u2019s anything more to it beyond the fake websites.<\/p>\n

Coindcx Pushes Back And Calls The Case A Conspiracy<\/strong><\/span><\/h2>\n

CoinDCX hasn\u2019t stayed quiet about this.<\/p>\n

The company has denied any involvement and described the FIR as \u201cfalse.\u201d They also called it a \u201cconspiracy by impersonators,\u201d which is a strong statement.<\/p>\n

According to them, the fake domain used in the scam has no connection to their official platform at all.<\/p>\n

They\u2019re basically saying: this wasn\u2019t us, it was people pretending to be us.<\/p>\n

They also mentioned that they\u2019re cooperating with authorities, so it seems like they\u2019re trying to clear things up from their side while the investigation continues.<\/p>\n

More Than 1,200 Fake Websites Have Been Linked To The Brand<\/strong><\/span><\/h2>\n

One part of this story that really stands out is the number of fake websites involved.<\/p>\n

CoinDCX says it has identified over 1,212 fake sites impersonating its brand since April 2024.<\/p>\n

That\u2019s\u2026 a lot.<\/p>\n

It shows how big of a target major crypto platforms have become. Once a name gets popular, scammers start using it in different ways, especially to trick people who may not double-check URLs or details.<\/p>\n

And when you have that many fake versions floating around, it becomes harder for regular users to tell what\u2019s real and what\u2019s not.<\/p>\n

Situation Reflects Bigger Problem Of Crypto Impersonation Scams<\/strong><\/span><\/h2>\n

Looking at the bigger picture, this isn\u2019t just about one company or one case.<\/p>\n

Impersonation scams have been happening for a while in crypto, and they don\u2019t seem to be slowing down. Fake websites, guaranteed return promises, cloned platforms, it\u2019s a pattern at this point.<\/p>\n

This case just puts a spotlight on how far it can go, especially when real company names and even founders get dragged into it.<\/p>\n

For CoinDCX, the main focus now seems to be proving that they had nothing to do with the fraud and helping authorities figure out who actually did.<\/p>\n

For users, it\u2019s another reminder to be careful, especially when something looks official but promises easy money.<\/p>\n

For now, the situation is still developing. There are claims, counterclaims, and an ongoing investigation.<\/p>\n

But one thing is clear: the line between real platforms and fake ones is still something a lot of people are struggling to spot.<\/p>\n

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.<\/i><\/p>\n

Follow us on Twitter\u00a0<\/b>@nulltxnews<\/b><\/a>\u00a0to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and\u00a0<\/b>Metaverse news<\/b><\/a>!<\/b><\/p>\n<\/p><\/div>\n

Read More<\/a>
\n Will Izuchukwu<\/p>\n","protected":false},"excerpt":{"rendered":"

Something a bit messy is unfolding around CoinDCX right now, and it\u2019s not the usual kind of crypto news. According to The Economic Times, the exchange\u2019s co-founders, Sumit Gupta and Neeraj Khandelwal, were arrested by police in connection with a fraud case. The whole situation is tied to impersonation websites, basically fake platforms pretending to<\/p>\n","protected":false},"author":1,"featured_media":893914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145401,1020],"tags":[],"class_list":["post-893913","post","type-post","status-publish","format-standard","has-post-thumbnail","category-coindcx","category-founders"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/893913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=893913"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/893913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/893914"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=893913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=893913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=893913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}