CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal have been released on bail after being detained by police on March 21 due to a fraud complaint. The court found no preliminary evidence against them, leading to their release on March 24. CoinDCX clarified that the fraud involved a fake website, coindcxpro, and was unrelated to their platform or financial systems. In response, CoinDCX announced the launch of the Digital Suraksha Network (D.S.N.), pledging 1 billion INR (approximately $12 million) to develop digital financial anti-fraud infrastructure.
CoinDCX Co-Founders Released on Bail, Launch Anti-Fraud Initiative
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