CoinDCX | Crypto

A spoofed CoinDCX site sparked a 7.16 million rupee fraud case, triggering arrests before a court ruled the exchange was impersonated Impersonation scams can be low-tech yet highly effective, using fake websites that closely mimic trusted cryptocurrency platforms to deceive users. The CoinDCX case shows how a 7.16 million rupee fraud complaint escalated into legal action before it was identified as an impersonation case. The fake domain coindcx.pro, not the real platform, was used to mislead the victim and carry out the fraud. Read more

After an Indian court found no case against CoinDCX’s founders, the Coinbase-backed exchange said it will roll out an anti-fraud network to tackle impersonation and cyber fraud. CoinDCX has announced a 100 crore Indian rupees (around $11 million) Digital Suraksha Network as a response to brand impersonation and cyber fraud, days after a court said there was “no prima facie” case against its founders. The initiative, outlined by co-founder and CEO Sumit Gupta in a March 30 post on X, comes after he and fellow co-founder Neeraj Khandelwal were taken into police custody earlier in March over a complaint tied to a fake “CoinDCX Pro” website that cheated an investor out of around $75,000. Thane police detained the founders on March 21 in connection with the fraud case, and the magistrate court later granted them bail, finding no case against them, and that the complainant had never met the real founders. The fraud was carried out by third parties posing as the founders via a spoofed trading site, a version of even...

A Thane judge granted bail to CoinDCX co-founders Sumit Surendra Gupta and Niraj Ashok Khandelwal, finding no case against them. A magistrate court in Thane, India, has granted bail to CoinDCX co-founders Sumit Surendra Gupta and Niraj Ashok Khandelwal, ruling that no prima facie case was made out against them in a 71 lakh Indian rupees ($75,000) cheating complaint linked to a fake trading platform posing as the Indian crypto exchange.  The court’s common order on March 23 on their bail applications concluded that they were entitled to bail because no case was made out against them, even on an initial look at the available evidence. The founders were taken in for questioning on Saturday and remanded over the weekend after a complaint alleged they had duped an investor. In the order, the magistrate recorded that the investigation officer had “no objection” to their release and that the applicants were not present in Mumbra when the alleged offence took place, adding that “some other person by representing as a...

Indian crypto investors have been buyers of bitcoin and other layer 1 tokens, maintaining a well-diversified portfolio, CoinDCX told CoinDesk.

India has cleared Coinbase’s minority stake in CoinDCX, paving the way for the U.S. exchange to expand in the local crypto market.

The regulatory approval followed an October notice from Coinbase saying that the exchange would be investing an undisclosed amount into the Indian exchange. The Competition Commission of India, the regulatory body responsible for promoting fair competition in the country, has approved Coinbase acquiring a minority stake in cryptocurrency platform CoinDCX. In a Tuesday notice, the regulator said it had approved Coinbase Global’s minority stake acquisition in DCX Global Limited, the company behind CoinDCX. Coinbase chief legal officer Paul Grewal confirmed the news in a Wednesday X post, saying it deepened the exchange’s “long-term partnership with one of India’s most established and trusted digital asset platforms.” Neither the regulatory announcement nor Grewal’s post included information about the percentage of Coinbase’s stake in the crypto exchange. Cointelegraph reached out to a Coinbase spokesperson for comment, but had not received a response at the time of publication.  Read more

CoinDCX’s Sumit Gupta said crypto is becoming a natural extension of traditional investing as Indian traders mature. Indian crypto investors using CoinDCX appear to be taking a more deliberate, portfolio-based approach to digital asset investing, with early signs of longer-term allocation behavior emerging in 2025.  On Thursday, the exchange released its annual report, which suggested that users are gradually shifting away from a “crypto equals Bitcoin” mindset toward more diversified holdings. CoinDCX data showed that the average customer now holds about five tokens, a notable increase from two to three tokens per investor in 2022.  The report also noted that layer-1 assets accounted for 43.3% of portfolio volumes, while Bitcoin (BTC) held a significant share at 26.5%. Memecoins represented 11.8% of users’ portfolio allocations, according to the report.  Read more

CoinDCX operator Neblio reportedly filed a complaint against software engineer Rahul Agarwal after discovering that his credentials had been compromised through his work laptop. An employee of CoinDCX, a cryptocurrency exchange that was hacked for $44 million in mid-July, was arrested in India in connection with a security breach, according to multiple local reports. Bengaluru City police detained CoinDCX software engineer Rahul Agarwal after hackers allegedly managed to compromise his login credentials to siphon the exchange’s assets, The Times of India reported on Thursday. The arrest followed a complaint and internal investigation by CoinDCX operator Neblio Technologies, which determined that Agarwal’s credentials had been compromised via his work laptop, allowing unauthorized access to the company’s servers. Read more

A $44-million breach at CoinDCX has rocked India’s CoinDCX exchange, exposing silent vulnerabilities, delayed disclosures and the fragile infrastructure. India’s largest crypto exchange, CoinDCX, fell victim to a sophisticated $44.2-million hack on July 19, 2025.  Attackers managed to gain access to an operational wallet and drained it within minutes. Fortunately, the security architecture of CoinDCX meant all customer funds were kept completely safe. Read more

The cybersecurity exploit occurred due to a "sophisticated server breach," CoinDCX CEO and co-founder Sumit Gupta announced on Saturday. Indian cryptocurrency exchange CoinDCX was hacked on Friday, leaving the exchange drained of $44 million.  The hackers compromised one of CoinDCX’s internal accounts used for “liquidity provisions” with another exchange through a server breach. No user funds were affected due to the exploit, according to CoinDCX CEO Sumit Gupta. The CEO also said that all customer funds remain safe and wrote: Read more