CoinDCX on Tuesday welcomed the courtroom’s order granting bail to its co-founders. In a press assertion issued at this time, the corporate claimed that the courtroom noticed no prima facie case had been made out in opposition to the co-founders.

Describing the case, CoinDCX mentioned it entails a fraudulent web site, ‘coindcx.professional,’ created by unknown actors to impersonate CoinDCX and deceive customers.

“CoinDCX’s solely official platform is coindcx.com. The fraudulent website has no direct or oblique connection to CoinDCX or its subsidiaries,” the press assertion mentioned.“The Courtroom took into consideration key information, together with that CoinDCX Co-Founders weren’t current on the location of the alleged offence, the press launch mentioned. The investigation officer submitted to the courtroom that another individual/s represented themselves as CoinDCX Co-Founders and cheated the complainant. The complainant additionally confirmed that the people concerned weren’t Sumit Gupta or Neeraj Khandelwal however unidentified actors impersonating them. The investigating officer raised no objection to bail,” the assertion mentioned.That is per CoinDCX’s place that the corporate and its management had no involvement within the incident and had been themselves victims of a fraud perpetrated via impersonation.

The promoters of CoinDCX had been arrested on Saturday by the Thane Police on allegations of felony breach of belief, officers mentioned.
The promoters of CoinDCX had been arrested on Saturday by the Thane Police on allegations of felony breach of belief, officers mentioned.Based on the police, co-founders Sumit Gupta and Neeraj Khandelwal had been apprehended from Bengaluru and produced earlier than a vacation courtroom in Thane. The courtroom had remanded the duo to police custody till Monday.

The Thane police registered an FIR in opposition to six people, together with Gupta and Khandelwal, for allegedly dishonest a complainant of Rs 71.6 lakh underneath the pretext of cryptocurrency funding and franchise alternatives linked to CoinDCX. The complainant, an insurance coverage advisor, alleged that he was lured between August 2025 and February 2026 with guarantees of excessive returns and regulatory approvals. The accused reportedly collected funds via money and financial institution transfers however didn’t ship the promised franchise or returns and later turned untraceable. Police have invoked provisions of the Bharatiya Nyaya Sanhita (BNS) and initiated an investigation.

Learn extra: CoinDCX promoters arrested by Thane police on felony breach of belief fees

The corporate has additionally invited trade consideration on this incident, highlighting how impersonation and phishing scams are an growing menace throughout digital monetary platforms.

“Malicious actors are extra steadily exploiting the trustworthiness of well-known manufacturers by copying identities, platforms, and management figures to deceive customers. CoinDCX strongly condemns such unlawful actions. Duty lies with those that plan and perform these scams, not with establishments whose identities are unlawfully exploited,” the assertion mentioned.

CoinDCX mentioned the corporate continues to function usually with none disruption. Buying and selling, deposits, withdrawals, and all person companies stay absolutely operational, the assertion mentioned.

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