Sumit Gupta, CEO of Indian cryptocurrency exchange CoinDCX, denied WazirX's allegation that the platform transferred user funds to non-compliant entities in Lithuania, saying that the user funds were held in custody by Neblio Technologies, an entity registered in India and compliant with FIU regulations.
Previously, Indian exchange WazirX claimed in Singapore court documents that CoinDCX deposited user funds in Lithuanian entities. Gupta stressed that CoinDCX had never conducted business in Lithuania or transferred any user funds to Lithuania, and said the allegation was misleading information.
Indian crypto exchange CoinDCX denies allegations of user money transfers
2025-07-13 00:54:13
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