CoinDCX announced a 100 crore INR (about $11 million) Digital Suraksha Network to combat brand impersonation and cyber fraud, in a March 30 post on X by co‑founder and CEO Sumit Gupta. The initiative follows a recent investigation in which Gupta and co‑founder Neeraj Khandelwal were detained by Thane police on March 21 after a complaint tied to a fake “CoinDCX Pro” site that allegedly defrauded an investor of roughly $75,000. A magistrate later granted them bail and found no prima facie case against the founders, noting the complainant had not met the real founders. CoinDCX maintains the theft was carried out by third parties operating a spoofed trading site.
The exchange said it has identified more than 1,200 websites impersonating its brand, a sign of a broader phishing and impersonation problem affecting Indian crypto platforms. Gupta presented the Digital Suraksha Network as a sector-wide cyber safety effort rather than a company-only response, saying the risks extend to any business with a digital presence.
Key components of the plan include:
– A 24/7 WhatsApp helpline to let users verify links and platforms before transferring funds.
– An open fraud-intelligence API populated from CoinDCX’s database of fake sites.
– Training support for state cybercrime units in blockchain forensics and asset tracing.
– A public awareness campaign titled “Caution Before Transaction” to educate digital finance users.
Gupta did not provide a detailed rollout schedule or disclose how much of the 100 crore INR has been allocated or deployed so far. CoinDCX, which includes Coinbase among its backers, was valued at $2.45 billion post-money in October 2025 after Coinbase increased its investment. Cointelegraph reached out to Gupta and CoinDCX for comment but had not received a response by publication. Readers are encouraged to verify details independently.