Ethereum

2024

<ul>
 <li>A fake app posing as CoinDCX was instead linked to by the exchange.</li>
 <li>Police in Delhi are reportedly looking into allegations of mobile app-based bank fraud.</li>
</ul>
A worrying turn of events in <a href="https://thenewscrypto.com/indian-authorities-issue-notice-to-global-crypto-exchanges-over-violations/" rel="noopener noreferrer nofollow">India’s</a> cryptocurrency scene has unfolded as crypto investment behemoth <a href="https://thenewscrypto.com/coindcxs-october-2023-por-report-reveals-strong-crypto-holdings/" rel="noopener noreferrer nofollow">CoinDCX</a> denies rumors that the exchange is the subject of investigation by the Delhi Police.
Police in <a href="https://www.delhitourism.gov.in/" rel="noopener noreferrer nofollow">Delhi</a> are reportedly looking into allegations of mobile app-based bank fraud. A number of complainants have noticed abnormalities, according to the latest report, and they allege that they were forced to pay extra money when they withdrew their cryptocurrency assets.
The cryptocurrency exchange has reportedly been the subject of many complaints, as reported by Indian Express recently. The story also revealed that the complainants—a businessman of 36 years old and an engineer of 24 years old—described their experiences with CoinDCX.
Under the guise of taxes, the businessman, who deposited INR 1.40 lakh, refused to give in to a demand for an additional INR 40,000 while withdrawing. Also, the engineer, who had already put in a sizable sum of INR 14 lakh, was hit with a demand for an extra INR 4.65 lakh while withdrawing, which he characterized as internet banking fraud, purportedly for tax reasons. Investors’ distressing encounters with unforeseen money demands upon withdrawal are highlighted by these concerns.
<h3 class="wp-block-heading" id="h-imposter-posing-as-coindcx">Imposter Posing as CoinDCX</h3>
However, CoinDCX has issued a statement denying any claims of wrongdoing and making it clear that the alleged instances did not take place on their official platform. A fake app/website posing as CoinDCX was instead linked to by the exchange, sending customers astray.
<div align="center">
 <blockquote class="twitter-tweet">
 Clarification on the recent news regarding fraud on CoinDCX App: We've learned of users having reported fraud related to the use of CoinDCX's App through this recent media outlet's article. We would like to confirm that no such incident has occurred on the CoinDCX App or… <a href="https://t.co/JKYLMTMtte" rel="noopener noreferrer nofollow">pic.twitter.com/JKYLMTMtte</a>— Sumit Gupta (CoinDCX) (@smtgpt) <a href="https://twitter.com/smtgpt/status/1742459801970655557?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 3, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div>
At the same time, the exchange addressed the accusations, stressing that its real platform is still safe and reliable. An imposter cryptocurrency app/website that used the exchange’s name to its advantage was the target of the complaints, according to CoinDCX.
Along with that, the exchange made it clear that customers can rest easy knowing that their money and transactions on the official CoinDCX platform are secure.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/ethereum-faces-brief-correction-after-climbing-above-2400-level/" target="_blank" rel="noopener noreferrer nofollow">Ethereum Faces Brief Correction After Climbing Above $2400 Level</a>

Crypto Exchange CoinDCX Dispels Fraud Reports With Clarification

Table of Contents

TheNewsCrypto

Other articles published on Jan 3, 2024

LightCycle: Transforming the Metaverse Business Landscape

Bitcoin Breaks Through Securities Barrier: Registered Funds Want Exposure To BTC

FTX Eyes New Revenue Stream Amid Legal Battles and Bankruptcy

Can Ethereum Compete With Celestia on Cost or Data Availability?

Is Bitcoin Targeting Above $50,000 Amidst ETF Approval Speculations?

Binance Announces Unwavering Support for Upcoming Zilliqa and Sei Network Upgrades

Join our free newsletter for daily crypto updates!