Who Are Neeraj Khandelwal And Sumit Gupta? CoinDCX Founders Face FIR Amid Impersonation Conspiracy Claims

CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal were summoned for questioning on March 21 after a Mumbai police station registered an FIR against the crypto exchange, following a complaint from a victim who lost Rs 71 lakh in a crypto scam. It is reported that the two founders were summoned to meet with Mumbai Police after being accused by a 42-year-old investment consultant that he had been defrauded of about 71 lakh under a false investment scheme. The complaint was that cheating was done and there was financial misconduct which caused the authorities to commence an investigation into the incident. 

Who Are Neeraj Khandelwal And Sumit Gupta?

Nevertheless, CoinDCX has vehemently refuted the malpractice and claimed that the FIR is founded on an impersonation case, and not individual conducts of the company or its founders. The company claimed that the victim had communicated with a counterfeit site that pretended to be the official CoinDCX platform and went to the extent of impersonating the identities of its founders. It is reported that the rogue site had a misleading domain and duped the users into sending money and the money was redirected to other third party accounts. The company stressed that the complainant had not talked with CoinDCX prior to the FIR filing, and that the founders were also shocked by the accusations.

CoinDCX Founders Face FIR Amid Impersonation Conspiracy Claims

CoinDCX also found that these impersonation scams belong to a bigger and more expanded network of cyber fraud committed against the crypto ecosystem. The company alleged that it had discovered more than 1200 counterfeit sites using its brand, logo, and services to defraud consumers. It has already given public warnings and is working together with the law enforcement organizations to help trace the actual offenders of such scams. The case brings to the fore the increasing worry regarding the problem of digital fraud in Indian cryptocurrency where phishing and impersonation are being employed in an increasing number to target unsuspecting investors. 

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