‘This should not happen to anyone else’, CoinDCX founders’ big announcement after returning from jail

A strange incident has happened with both the founders of crypto exchange CoinDCX. Founder Sumit Gupta himself has told that he and his partner Neeraj Khandelwal were arrested due to a complaint in a fraud case. Both remained in police custody for three days and were later released. In fact, the complainant was victimized through a fake website whose name was similar to CoinDCX. Now Sumit Gupta says that so that this does not happen to anyone else, he will create a digital security network costing Rs 100 crore so that such a mistake does not happen again with any company or founder.

Earlier there were reports that Sumit Gupta and his partner Neeraj Khandelwal have been arrested on charges of fraud of Rs 71 lakh. An FIR was lodged in this case on March 16. Even at that time CoinDCX had termed this FIR as false. The person who complained had said that between August 2025 and March 2026, this company defrauded him of Rs 71.6 lakh. It was also said in the complaint that he was offered huge returns and franchise in return for investment.

Sumit Gupta told the truth

Now Sumit Gupta has written a long social media post on this matter. He has written, ‘On March 21, Neeraj and I were taken into police custody. On March 24, Thane court granted us bail. The court initially accepted that no case is made out against us. The fake website used in this complaint is coindx.pro which is fake and has nothing to do with our platform, our system or CoinDCX. There was no transaction on our exchange. The complainant also admitted in the court that he did not know us and had never even met us.

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Sumit further writes, ‘Now we have decided that this has to change because this can happen to any business or any founder. CoinDCX will lead this change. We are announcing the Digital Security Network with a commitment of Rs 100 crore to create a cyber safety infrastructure in India. India’s digital finance ecosystem needs it but it is not there in India yet. This is not just a problem for crypto people. This can happen with any company that has a digital footprint.

What is CoinDCX going to do?

According to the announcement, a 24X7 running WhatsApp helpline will be created through which you can verify any link or platform before doing any transaction. Apart from this, Open Fraud Intelligence API will be created so that fake websites can be banned. Regarding this, CoinDCX says that it has detected more than 1200 websites imitating its platform and it wants other companies to also cooperate in this and expose the fake websites.

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Apart from this, Digital Security Network will also run training programs so that people will be made aware about it.