Two co-founders of crypto exchange CoinDCX held on charges of fraud

The Thane police have arrested two co-founders of cryptocurrency exchange platform CoinDCX in connection with an alleged fraud of Rs 71.6 lakh, officials said on Monday. The action follows an FIR registered on March 16 at the Mumbra police station in Thane against CoinDCX co-founders Sumit Gupta, Neeraj Khandelwal and others on charges of cheating, criminal breach of trust and fraud. A 42-year-old insurance advisor alleged he was duped of Rs 71.6 lakh between August 2025 and March this year after being lured by promises of high returns by investing in a firm purportedly associated with the cryptocurrency platform. The complainant transferred the funds through cash and online transactions, but the invested amount was not returned and was allegedly misappropriated. A Mumbra police team apprehended the two accused from Bengaluru and they were remanded to police custody.