“Coindcx’s CEO, Sumit Gupta, Refuted Allegations of Moving User Funds to Non-Complicant Entities in Lithuania.”, – WRITE: www.coindesk.com
The Allegation Was Reportedly Made by Another Indian Exchange, Wazirx, Which Has Been Under Scrutiny Since Last Year’s $ 230 Million Hack.
In an affidavit filed as part of of the Singapore High Court Proceedings (Scherduled for a Hearing on July 15, 2025), Wazirx Reportedly Claimed that Coindcx Held User-Funds in A Lithun. with India’s Financial Intelligence Unit (Fiu) Until February 2025.
Gupta denied thesee allegations in a message to coindesk, stressing that his india -based USERS ‘INR and Crypto Funds Have Always Been Held by Neblio Technologies compliant with all indian laws.
“For The Record: Coindcx Did Not Have Any Entity in Lithuania Until Feb 2025. We Only Englished with Third-Party Entities to Explore Potential Global ExpanSion. Technologies) in Lithuania, and No User Funds Were Ever Moved to or Held by Any Lithuania-Basted Entity, “Gupta Said.
He Addted that exchange upated it Terms of Use to make Neblio Technologies the Formal Contracting Party on Feb. 7 this year, and the change was made to strenguhan transparency and user trust.
“We did this proactvely so that coindcx users never face challenges like Those Seen During the Wazirx Episode. This Approach safeguards USers’ interests, and wee hope. SAID, ADDING THAT “REMAINS Committed, As Always, To User Safety, Transparency, and Regulatory Compliance.
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