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After an Indian court found no case against CoinDCX’s founders, the Coinbase-backed exchange said it will roll out an anti-fraud network to tackle impersonation and cyber fraud.CoinDCX has announced a 100 crore Indian rupees Digital Suraksha Network as a response to brand impersonation and cyber fraud, days after a court said there was “no prima facie” case against its founders.
by co-founder and CEO Sumit Gupta in a March 30 post on X, comes after he and fellow co-founder Neeraj Khandelwal wereearlier in March over a complaint tied to a fake “CoinDCX Pro” website that cheated an investor out of around $75,000., finding no case against them, and that the complainant had never met the real founders. The fraud was carried out by third parties posing as the founders via a spoofed trading site, a version of events CoinDCX had maintained from the outset.and impersonation problem around Indian crypto platforms. Gupta’s new announcement packages CoinDCX’s response as a sector‑wide cyber safety push rather than a company-specific issue. “This is not a crypto problem,” Gupta wrote, arguing that any business with a digital footprint could see its brand copied and weaponized against consumers. The Digital Suraksha Network pledge includes a proposed 24/7 WhatsApp helpline for anyone to verify links and platforms before sending funds, an open fraud intelligence application programming interface fed by CoinDCX’s database of fake sites, training support for state cybercrime cells on blockchain forensics and asset tracing, and a “Caution Before Transaction” campaign aimed at ordinary digital finance users. Gupta did not provide a detailed rollout timeline for the network, nor did he specify how much of the $11 million commitment has been budgeted or deployed at this stage.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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