CoinDCX said an FIR against its cofounders relies on false allegations linked to impersonation fraud. Fraudsters posed as founders, diverting funds to third-party accounts. The company reported over 1,212 fake websites between April 1, 2024 and January 5, 2026 and said that it is cooperating with authorities. CoinDCX also warned of rising cyber fraud in India’s digital finance ecosystem.