CoinDCX co-founders get bail in ₹71L fraud case
Business
CoinDCX's co-founders, Sumit Gupta, Neeraj Khandelwal, and Mridul Gupta, were granted bail on March 24 after being accused of fraud.
The case started when an insurance consultant claimed to have lost more than ₹71 lakh after being promised monthly returns of 10% to 12%.
The Thane court heard the case just a day before granting bail.
CoinDCX's response to allegations
CoinDCX has denied any wrongdoing, saying the fraud was actually carried out by scammers using a fake site that impersonated their brand.
They called the FIR a result of people pretending to be them and pointed out they've reported over 1,212 fake websites between April 1, 2024 and January 5, 2026.
The company is asking everyone to stay alert online and report anything suspicious.