CoinDCX unveils a ₹1 billion cyber safety network with open fraud intelligence APIs after founders faced wrongful police action in an impersonation scam case.
CoinDCX has launched a ₹1 billion cyber safety fund, Digital Suraksha Network (D.S.N.), aimed at building a robust fraud prevention and consumer protection infrastructure across India’s digital finance ecosystem.
The initiative is anchored by an open API for fraud intelligence, enabling fintechs, crypto platforms, banks, and digital lenders to plug into a shared threat intelligence layer. This includes access to scam website databases and cross-platform fraud signal sharing, positioning D.S.N. as an open cyber intelligence infrastructure.
The move follows a high-profile impersonation incident where fraudsters allegedly misused the CoinDCX brand to run a fake investment scam. The episode led to an FIR at Mumbra police station in Thane, linked to a complaint involving losses exceeding ₹7.1 million. The company’s founders were taken into police custody before securing bail, with the court noting no prima facie case.
Sumit Gupta, Co-founder and CEO, CoinDCX, said, “We were taken into police custody.”
Beyond APIs, D.S.N. will roll out a WhatsApp-based AI helpline, fraud verification rails, and a broader cyber safety stack. The platform is expected to evolve over the next few years into a multi-layered defence system.
By opening fraud intelligence infrastructure to multiple stakeholders, CoinDCX is attempting to shift cyber defence from siloed responses to a collaborative, ecosystem-wide model.
