Indian crypto exchange CoinDCX denies allegations of external transfer of user funds

On July 13, CoinDesk reported that Sumit Gupta, CEO of Indian cryptocurrency exchange CoinDCX, denied WazirX's allegations that the platform transferred user funds to a non-compliant entity in Lithuania, saying that the user funds in question were managed by Neblio Technologies, an entity registered in India and compliant with FIU regulations. Previously, Indian exchange WazirX claimed in Singapore court documents that CoinDCX held user funds in a Lithuanian entity. Gupta stressed that CoinDCX has never operated in Lithuania or transferred any user funds to Lithuania, and said the allegations are misleading information. [Deep Tide TechFlow]