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JUST IN: CoinDCX co-founders arrested by Indian police for alleged fraud deny any wrongdoing and blame an identity theft scheme: reports.
According to local media reports, CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal were arrested by police in Thane, India, and remanded in custody until March 23.
The case stems from a complaint filed by an insurance consultant who claims to have lost approximately 71.6 lakh rupees (about $85,000) through a fraudulent investment scheme linked to CoinDCX.