CoinDCX CEO Denies WazirX Allegations: User Crypto Never Moved Abroad
2025-07-15 05:53:56
Main Idea
CoinDCX CEO denies allegations by WazirX, stating that user crypto funds were never moved abroad and have always been held by Neblio Technologies, an FIU-IND registered entity in compliance with Indian laws.
Key Points
1. CoinDCX CEO Sumit Gupta refutes WazirX's claims, asserting that user funds were never transferred to Lithuania and remain with Neblio Technologies.
2. The February 2025 date mentioned by WazirX aligns with CoinDCX updating its Terms of Use to name Neblio Technologies as the formal contracting party.
3. Gupta emphasizes proactive measures to prevent issues similar to those faced by WazirX, ensuring compliance with Indian regulations.
4. WazirX's parent company, Zettai PTE LTD, is seeking approval for a restructuring plan in Singapore, facing challenges in the process.
5. Bitcoin recently hit a new all-time high around $123,000, with its price showing a 12% weekly increase.
Description
The CEO of Indian crypto exchange CoinDCX has responded to WazirX allegations by denying that user funds were ever moved to Lithuania. CoinDCX CEO Says User Crypto Funds Have Never Been Moved According to Crypto India co-founder Aditya Singh , Wazirx claimed in an affidavit filed as part of the Singapore High Court proceedings that CoinDCX was holding its users’ crypto funds with a Lithuanian entity that wasn’t registered with India’s Financial Intelligence Unit (FIU) until February 2025. “If th...
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