Synopsis
CoinDCX said an FIR against its cofounders relies on false allegations linked to impersonation fraud. Fraudsters posed as founders, diverting funds to third-party accounts. The company reported over 1,212 fake websites between April 1, 2024 and January 5, 2026 and said that it is cooperating with authorities. CoinDCX also warned of rising cyber fraud in India’s digital finance ecosystem.In a statement, the company said fraudsters posing as founders of CoinDCX allegedly misled members of the public and diverted funds to unrelated third-party accounts. The firm clarified that the accounts cited in the complaint have no connection with CoinDCX’s operations.
“The FIR filed against our cofounders is false and appears to be part of a conspiracy involving impersonators posing as CoinDCX founders and cheating the public,” the company said. “We have issued a public notice on our website highlighting that CoinDCX is being targeted by fraudsters.”
CoinDCX added that brand impersonation and related cyber frauds have emerged as a growing concern in India’s digital finance ecosystem, particularly as retail participation in crypto and online investment platforms expands.
According to the company, between April 1, 2024 and January 5, 2026, it has reported more than 1,212 fake websites impersonating coindcx.com, underlining the scale of the problem.
The exchange said it is cooperating with law enforcement agencies investigating the matter and reiterated its commitment to strengthening user awareness to prevent financial fraud.
“We strongly condemn such actions and remain fully committed to supporting authorities in addressing such misconduct,” the company said.
