Mars Finance News, on July 13, according to CoinDesk, the co-founder of Indian cryptocurrency exchange CoinDCX stated on Saturday that there were previous allegations claiming the exchange transferred user funds to a non-compliant entity in Lithuania. These allegations were raised by another Indian exchange WazirX, which has been under scrutiny since its $230 million hacking incident last year. WazirX accused CoinDCX of holding user funds in an entity located in Lithuania, which was not registered with the Financial Intelligence Unit (FIU) in India until February 2025. CoinDCX denied these allegations in a statement, stating that the relevant user funds are custodied by Neblio Technologies, an entity registered in India and compliant with FIU regulations.
Indian Crypto Exchange CoinDCX Denies Transferring User Funds
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