CoinDCX has formally denied allegations made by competitor exchange WazirX regarding the custody of user funds, dismissing the claims as unfounded.
WazirX raised these allegations amidst heightened regulatory scrutiny following its own $230 million security breach last year.
Countering the accusations, CoinDCX clarified that all user assets remain securely managed by Neblio Technologies, an Indian-registered entity operating in full compliance with Financial Intelligence Unit (FIU) regulations.