Indian crypto exchange CoinDCX co-founder arrested by police on suspicion of fraud, exchange claims it was done by a fake website.

Techub News reported, according to The Block, that Indian cryptocurrency exchange CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal were arrested by Thane police on fraud allegations. The court ordered them remanded to police custody until March 23. The case stems from a report filed by an insurance advisor who claimed to have lost approximately $85,000 through a fake investment scheme linked to CoinDCX. CoinDCX called the report "false," stating the fraud was perpetrated through a spoofed website by impersonators, not through its platform, and said it has reported over 1,200 fake websites impersonating its domain since April 2024.