The co-founders of CoinDCX, India's largest cryptocurrency exchange by valuation, have been arrested in connection with an alleged crypto investment fraud. Sumit Gupta and Neeraj Khandelwal were detained in Bengaluru and produced before a weekend magistrate's court, which remanded them to police custody until March 23. CoinDCX responded swiftly, calling the FIR "false and filed as a conspiracy against CoinDCX by impersonators posing as Founders of CoinDCX." "Brand impersonation and related cyber frauds are an increasing concern in India's digital finance ecosystem, and we strongly condemn such actions," the statement reads. Between April 1, 2024 and January 5, 2026, the company has reported over 1,212 fake websites impersonating coindcx.com.