Overview
- Thane Police said cofounders Sumit Gupta and Neeraj Khandelwal were detained in Bengaluru, produced before a Thane court, and placed in police custody until March 23.
- An FIR names six accused and cites cheating and criminal breach of trust under the Bharatiya Nyaya Sanhita in connection with the alleged losses.
- The complainant, a 42-year-old insurance advisor, alleges he was promised high returns and franchise opportunities linked to CoinDCX between August 2025 and February 2026.
- Police reports and the complaint say money was collected through cash and bank transfers, while CoinDCX maintains the accounts referenced are unrelated to the company.
- CoinDCX says it has flagged more than 1,212 fake websites impersonating its domain since April 2024 and has issued a public notice while cooperating with investigators; some earlier reports differed on whether the founders were arrested or only questioned.