TechFlow News: On March 25, according to Cointelegraph, the Thane District Court in India ruled on March 23 that Sumit Gupta and Niraj Khandelwal, co-founders of CoinDCX, lacked prima facie evidence of criminal involvement in a fraud case involving ₹7.1 million (approximately $75,000) and granted them bail. The court’s investigation revealed that the fraudulent activity actually occurred on the counterfeit website coindcx.pro, which has no connection whatsoever to CoinDCX’s official platform. The primary suspect, Rana, has fully reimbursed the victims, who confirmed in court that Gupta and Khandelwal were not the individuals they had met at the café.
CoinDCX subsequently issued a statement characterizing the incident as “third-party impersonation” and urged users to verify domain names carefully and interact exclusively through official channels to guard against the increasingly rampant counterfeit and phishing scams plaguing India’s cryptocurrency industry.
