- CoinDCX launched the Digital Suraksha Network and pledged approximately $10.5 million.
- The CEO is asking every platform, regulator, and Indian in digital finance to join in.
- Gupta and co-founder Neeraj Khandelwal were arrested on March 21 after a fraud complaint.
CoinDCX CEO Sumit Gupta has broken his silence after being briefly detained in a fraud case, calling the experience “shocking” and “very disheartening.”
In response to the incident, CoinDCX launched the Digital Suraksha Network and pledged ₹100 crore (approximately $10.5 million) to boost India’s cyber safety infrastructure.
The program includes:
- 24/7 WhatsApp number to check suspicious links
- Open API that shares scam site data
- Training for law enforcement on blockchain forensics and tracking digital assets
- Nationwide awareness campaign urging users to check platforms before they transact
Gupta stated that no single company can fix these issues alone, as the scam networks are smart, cross‑border, and changing by the day, in addition to AI making them even harder to catch. He is asking every platform, regulator, and Indian in digital finance to join in, so that people building startups in the country can do it with confidence, not fear.
CoinDCX’s CEO said this isn’t just a crypto problem, but an issue for any company with a digital footprint.
Gupta called the initiative just a start, pushing for wider participation across digital finance to build what he called a “shared immune system” against scams.
Details Regarding Gupta’s Arrest
Gupta and co-founder Neeraj Khandelwal were arrested on March 21 after a fraud complaint. However, the court granted them bail on March 24, saying no initial case was made.
The CEO says the incident was caused by a fake website “coindcx.pro” run by impersonators with no ties to CoinDCX. He stressed that no money moved through the exchange and no trades happened on its platform. The complainant also reportedly told the court they never dealt directly with the company or its founders.
The case has raised bigger questions about how authorities in India handle digital fraud, especially in fast-moving spaces like crypto. Gupta warned that the ecosystem has trouble telling real companies apart from bad actors using their names, putting both users and founders at risk.
He further noted that, “This could happen to any founder, any business,” Gupta noted, pointing to the rising danger of impersonation scams powered by smarter, AI-powered tools.
Related: CoinDCX Co-Founders Arrested in ₹71.6 Lakh Crypto Fraud Case
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Source: https://coinedition.com/coindcx-ceo-sumit-gupta-launches-%E2%82%B9100cr-10-5m-safety-plan/
