The CEO of Indian Crypto Excination Coindcx responded to Wazirx’s allegations by denying that the user’s money was transferred to Lithuania.
Coindcx CEO says that the user’s encryption money has never been transferred
According to Crypto India, co -founder Aditya SinghWazirx claimed a written certificate submitted as part of Singapore’s Supreme Court procedures that Coindcx was keeping the money of its user’s encoding with the Litani entity that was not registered in the Financial Intelligence Unit (FIU) until February 2025.
“If this is true – it contradicts a previous statement made by Coindcx CEO in April 2024,” Singh noted in X. Sumit Gobta, CEO quote The thread to provide clarity on this issue.
“All Indian users in INR and Crypto have always been on @Coindcx, and still kept by Neblio Technologies, our registered entity in FIU, is completely compatible with all Indian laws,” said Gupta.
The history of February 2025 that Wazirx referred to in the statement of sin with the Coindcx Update Conditions to name Neblio technologies as an official contractor. Wazirx claimed that the stock exchange transfer money to the registered entity of Fui-INDIA in about 2025.
If the Gupta statement is to move forward, the money has always been with NEBLIO technologies and the terms of use were just a measure to enhance transparency.
“We did this proactive so that Coindcx users never face challenges like those seen during the Wazirx episode,” Coindcx CEO. “This approach protects the interests of users and we hope that other Indian exchanges will adopt the same standard.”
Almost one year ago, Wazirx was in a notorious penetration center led to the loss of user’s encryption funds worth $ 234.9 million, or nearly half of the platform reserves. The exchanges have closed their operations as soon as the penetration became known and the deposits and clouds have been suspended since then.
Zettai PTE LTD, the parent company of Wazirx, is seeking approval for the restructuring plan from the Supreme Court in Singapore. However, in a major blow to the recovery efforts, the court rejected the penalty of the proposal on June 4.
The company later submitted a request for more arguments accepted by the court. The next session, which is expected to include a CoindCX claim, is expected to be held on July 15.
“Please do not fall into misinformation,” said Coindcx CEO in his statement. “We are still committed, as always, the safety of the user, transparency and organizational compliance.”
Bitcoin price
Bitcoin has set the highest new level ever (ATH) around the level of $ 123,000 during the past day, but digital assets have since witnessed a slight decline in its price to 121,900 dollars. The currency increased by more than 12 % a week.
The price of the coin seems to have been on the rise in recent days | Source: BTCUSDT on TradingView
Distinctive image from Dall-E, Chart from TradingView.com
Editing process For Bitcoinist, it is focused on providing accurate, accurate and non -biased content. We support strict resource standards, and each page is subject to a diligent review by our team of senior technology experts and experienced editors. This process guarantees the integrity of our content, importance and value of our readers.
https://bitcoinist.com/wp-content/uploads/2025/07/btc_fd88a3.png
2025-07-15 05:00:00
