CoinDCX announced a 100 crore INR (about $11 million) Digital Suraksha Network aimed at tackling brand impersonation and cyber fraud, days after a magistrate court found “no prima facie” case against its founders.
The initiative was outlined by co‑founder and CEO Sumit Gupta in a March 30 post on X. Earlier in March, Gupta and co‑founder Neeraj Khandelwal were detained by Thane police on March 21 following a complaint tied to a fake “CoinDCX Pro” site that defrauded an investor of roughly $75,000. The court later granted them bail, finding no case against the founders and noting the complainant had never met the real founders. CoinDCX has consistently said the fraud was carried out by third parties using a spoofed trading site.
CoinDCX has identified more than 1,200 websites impersonating its brand, highlighting a broader phishing and impersonation problem affecting Indian crypto platforms. Gupta framed the pledge as a sector‑wide cyber safety effort rather than a company‑specific response, writing that this is not solely a crypto problem but an issue for any digitally present business.
Key elements of the Digital Suraksha Network include:
– A proposed 24/7 WhatsApp helpline for users to verify links and platforms before sending funds.
– An open fraud‑intelligence API fed by CoinDCX’s database of fake sites.
– Training support for state cybercrime cells in blockchain forensics and asset tracing.
– A public “Caution Before Transaction” awareness campaign for digital finance users.
Gupta did not provide a detailed rollout timeline or specify how much of the $11 million has been budgeted or deployed so far.
CoinDCX, which counts Coinbase among its investors, was valued at $2.45 billion post‑money in October 2025 after Coinbase increased its investment. Cointelegraph reached out to Gupta and CoinDCX but had not received a response by publication.
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