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Events / Regulatory / CoinDCX Co-Founders Arrested for Fraud
Regulatory fraud arrest

CoinDCX Co-Founders Arrested for Fraud

Analysis based on 20 articles · First reported Mar 21, 2026 · Last updated Mar 23, 2026

Sentiment
-50
Attention
4
Articles
20
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The arrests of CoinDCX co-founders, Amit Gupta and Dhiraj Khandelwal, on fraud allegations could significantly impact investor confidence in the cryptocurrency market in India, especially given CoinDCX's status as one of the largest exchanges. While CoinDCX denies wrongdoing and blames impersonators, the incident highlights the growing risks of cyber fraud in the digital finance sector, potentially leading to increased regulatory scrutiny and a cautious approach from investors.

cryptocurrency financial services
Event Summary

Amit Gupta and Dhiraj Khandelwal, co-founders of CoinDCX, one of India's largest cryptocurrency exchanges, were arrested by India — Pune City Police in connection with an alleged fraud of Rs 71.6 lakh. The arrests followed an FIR filed by a 42-year-old insurance advisor who claimed to have been duped between August 2025 and March 2026 by promises of high returns from a firm purportedly associated with CoinDCX. The complainant transferred funds through cash and online transactions, which were allegedly misappropriated. CoinDCX has vehemently denied the allegations, stating that the FIR is false and part of a conspiracy by impersonators posing as its founders to defraud the public. The company claims to have reported over 1,212 fake websites impersonating its platform between April 2024 and January 2026 and is cooperating with law enforcement authorities. The co-founders were apprehended in Bengaluru and remanded to police custody.

Entities Involved
oth
CoinDCX
CoinDCX co-founders were arrested on charges of criminal breach of trust and fraud, though the company denies wrongdoing, claiming impersonators are behind the scam. This event negatively impacts CoinDCX's reputation and could affect its operations and user trust.
Importance 100.0 Sentiment -70.0
per
Dhiraj Khandelwal
Dhiraj Khandelwal, a co-founder of CoinDCX, was arrested by India — Pune City Police in connection with an alleged fraud case. He was later remanded to police custody.
Importance 95.0 Sentiment -80.0
per
Amit Gupta
Amit Gupta, a co-founder of CoinDCX, was arrested by India — Pune City Police in connection with an alleged fraud case. He was later remanded to police custody.
Importance 95.0 Sentiment -80.0
govactor
India — Pune City Police
India — Pune City Police arrested Amit Gupta and Dhiraj Khandelwal, co-founders of CoinDCX, in connection with an alleged fraud case and are conducting a detailed probe.
Importance 80.0 Sentiment 0.0
govactor
India — Thane City Police
India — Thane City Police arrested the promoters of CoinDCX and are investigating the allegations of criminal breach of trust and fraud. They are holding the co-founders in police custody.
Importance 60.0 Sentiment 0.0
govactor
India — Greater Mumbai Police
Importance 0.0 Sentiment 0.0
cnt
India
Importance 0.0 Sentiment 0.0
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