TechFlow, July 13 — According to CoinDesk, Sumit Gupta, CEO of Indian cryptocurrency exchange CoinDCX, denied allegations made by WazirX that the platform transferred user funds to a non-compliant entity in Lithuania. He stated that the relevant user funds are held by Neblio Technologies, an entity registered in India and compliant with FIU regulations.
Previously, Indian exchange WazirX claimed in Singapore court documents that CoinDCX stored user funds with an entity in Lithuania. Gupta emphasized that CoinDCX has never operated in Lithuania nor transferred any user funds there, calling the allegations misleading.




