CoinDCX co-founders Sumit Gupta and others acquitted and granted bail in impersonation fraud case

Techub News reported, according to Cointelegraph, the Thane District Court in India ruled on March 23 that CoinDCX co-founders Sumit Gupta and Niraj Khandelwal did not constitute prima facie evidence of a crime in a fraud case involving 7.1 million rupees (approximately $75,000) and granted bail to the two. The court investigation revealed that the fraud actually occurred on the counterfeit website coindcx.pro, which is unrelated to the official CoinDCX platform. The main suspect, Rana, has fully refunded the victim, and the victim also confirmed in court that the two founders were not the individuals they met at the cafe. CoinDCX subsequently issued a statement, characterizing the incident as a "third-party impersonation" and reminded users to always verify the domain name and only interact through official channels to guard against the increasingly rampant counterfeit and phishing scams in India's crypto industry.