The CEO of Indian crypto exchange CoinDCX, Sumit Gupta, denied allegations by WazirX that it transferred user funds to a non-compliant entity in Lithuania. Gupta stated that CoinDCX users' rupees and crypto assets have always been custodied by Neblio Technologies, which is registered and compliant in India, and the company has never established an entity or conducted business in Lithuania. https://www.coindesk.com/policy/2025/07/12/indian-crypto-exchange-coindcx-denies-moving-user-funds-after-wazirx-allegations
CoinDCX denies transferring user funds to non-compliant entities in Lithuania
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