The co-founder of CoinDCX was arrested by Indian police on suspicion of fraud; the exchange claims it was a fake website impersonating him.

CoinFeed reported on March 23 that, according to The Block, Sumit Gupta and Neeraj Khandelwal, co-founders of CoinDCX, India's largest cryptocurrency exchange, were arrested by Thane police on suspicion of fraud and remanded in custody until March 23. The case stems from a report submitted by an insurance advisor who claimed to have lost approximately $85,000 through a fraudulent investment scheme linked to CoinDCX. CoinDCX denies the report is "inaccurate," stating that the fraud was perpetrated by imposters through counterfeit websites, not through its platform, and that it has reported over 1,200 fake websites impersonating its domain since April 2024.