CoinDCX CEO announces Rs.100 crore cyber safety fund days after his arrest in ‘shocking and disheartening’ scam

CoinDCX co-founder and CEO Sumit Gupta has announced a Rs 100-crore investment to build a Digital Suraksha Network (DSN), aimed at tackling the growing threat of cyber fraud in India. It is set to focus on creating shared safety infrastructure for fintech firms, crypto platforms, banks and other digital players. The announcement comes days after Gupta and other CoinDCX co-founder Neeraj Khandelwal were arrested in a case linked to a scam carried out by impersonators using a fake website.

Gupta explained on X the DSN will take a few years to be fully developed and will be designed as a collaborative effort across the digital ecosystem.