CoinDCX founder implicated in impersonation fraud case, Indian court found not guilty and granted bail

According to Cointelegraph, the District Court of Tana, India, ruled on March 23 that CoinDCX co-founders SumitGupta and Niraj Khandelwal did not constitute preliminary evidence of guilt in a fraud case involving 7.1 million rupees (approximately US$75,000) and granted them bail.<br /> Court investigations showed that the fraud actually occurred on the counterfeit website coindcx.pro and had no connection with the official platform of CoinDCX. The main person involved in the case, Rana, had refunded the victim in full. The victim also confirmed in court that the two founders were not parties to their meeting in the cafe.<br /> CoinDCX subsequently issued a statement characterizing the incident as a third-party impersonation and reminded users to verify the domain name and interact only through official channels to prevent increasingly rampant counterfeiting and phishing scams in the Indian encryption industry.