Thane police arrested the co-founders of Indian crypto exchange CoinDCX in Bengaluru on 21 Mar over allegations of fraud. Law enforcement officials detained Sumit Gupta and Neeraj Khandelwal following a localized scam involving roughly 7.16mn rupees (~$86k), according to The Hindu Business Line.
CoinDCX Founders Arrested in India over Fraud Scam: Local Media
23 March 2026 - 08:53 CET
By Stu Clelland
The exchange executives maintain the charges stem entirely from a brand impersonation scheme. The two executives have been remanded into police custody pending further investigation.
The fraud charges contrast sharply with the $2.45bn valuation of the digital asset platform. Coinbase Global backed the exchange in October 2025 to deepen its exposure across the region, according to a seperate Bloomberg report.
