Indian cryptocurrency exchange CoinDCX denies allegations of user fund transfers

ChainCatcher news, according to CoinDesk, CoinDCX CEO Sumit Gupta denied the allegations made by WazirX that the platform transferred user funds to a non-compliant entity in Lithuania, stating that the relevant user funds are held by Neblio Technologies, which is registered in India and complies with FIU regulations.

Previously, the Indian exchange WazirX claimed in Singapore court documents that CoinDCX was storing user funds in a Lithuanian entity. Gupta emphasized that CoinDCX has never operated in Lithuania and has not transferred any user funds to Lithuania, stating that the allegations are misleading information.