CoinDCX co-founders granted bail as Indian court finds no prima facie case in ₹71.6L fraud complaint

An Indian court in Thane granted bail to CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal in a ₹71.6 lakh fraud case, saying no prima facie offence was made out against them. The pair had been arrested after a complaint alleged that investors were cheated through promises tied to cryptocurrency investment and franchise opportunities associated with CoinDCX, but the defence argued the founders had been impersonated by unknown persons. The case matters because it briefly put one of India’s best-known crypto exchanges under legal scrutiny, raising questions about identity fraud, impersonation schemes, and the reputational risk faced by major platforms when bad actors use their names to solicit funds. The court’s bail order does not itself resolve every factual issue in the complaint, but it signals that the judge did not find enough evidence at this stage to keep the founders in custody.

✨ AI-generated background, compiled from web sources — not editorial content.

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