The Thane District Court in India has acquitted CoinDCX co-founders Sumit Surendra Gupta and Niraj Ashok Khandelwal of fraud charges and granted them bail. The court ruled that the 710,000 rupee ($75,000) fraud charges were unfounded, as the case involved a fake trading platform impersonating CoinDCX. Investigating officials had no objections to their release, and it was confirmed that the founders were not involved in the crime. CoinDCX clarified that the fraud was perpetrated by a third party using a fake website, coindcx.pro, unrelated to the company. The court also noted that the complainant admitted another defendant had repaid the defrauded funds and confirmed the founders were not involved. Each founder was released on bail of 50,000 rupees and must cooperate with ongoing investigations.