According to ChainCatcher, citing CoinDesk, Sumit Gupta, CEO of Indian cryptocurrency exchange CoinDCX, denied WazirX's claims that the platform transferred user funds to a non-compliant entity in Lithuania, stating that the relevant user funds are managed by Neblio Technologies, an entity registered in India and compliant with FIU regulations.
Previously, WazirX, an Indian exchange, claimed in Singapore court documents that CoinDCX had deposited user funds in a Lithuanian entity. Gupta emphasized that CoinDCX has never conducted business in Lithuania or transferred any user funds to Lithuania, and described these allegations as misleading information.

