Two co-founders of cryptocurrency exchange platform CoinDCX were arrested by Thane police on Monday for alleged fraud of Rs 71.6 lakh. According to the police, this action was taken after the FIR registered at Mumbra police station on March 16. In the FIR, charges of cheating, breach of trust and cheating were leveled against CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal, among others.
Complaint regarding not getting back the invested amount
The complainant, a 42-year-old insurance consultant, told the police that he was lured to invest in a firm by promising promises of high returns from August 2025 to March 2026. This firm was reportedly linked to crypto platforms and was also given a franchise opportunity. The complainant invested a total of Rs 71,60,015 through cash and online transactions at different times. But the amount invested was not recovered and was allegedly embezzled.
appear in local court
The Mumbra police team arrested both the accused from Bengaluru on Saturday and brought them to the police station on Sunday and presented them in the local court. The police sent him to judicial custody till Monday. Senior Police Inspector Anil Shintat said that a detailed investigation of the case is going on to find out how many more people have been affected by this investment scheme.
Get to know CoinDCX
CoinDCX is India’s most valuable crypto investment app. This makes crypto accessible to investing in a simple way. Founded in 2018, CoinDCX has addressed many challenges the Indian crypto community has faced. The company offers solutions to problems related to crypto investing, crypto trading, and crypto literacy, so that both new and experienced investors can easily step into crypto and make safe investments. Its objective is that every person in India can understand the world of crypto and take advantage of it, whether he is an investor or a trader.