Sumit Gupta, CEO of Indian crypto exchange CoinDCX, has denied WazirX's allegations that it transferred user funds to a non-compliant entity in Lithuania. Gupta stated that CoinDCX users' rupees and crypto assets have always been held by Neblio Technologies, which is registered and compliant in India, and that it has never established an entity or conducted business in Lithuania. [CoinDesk] https://www.coindesk.com/policy/2025/07/12/indian-crypto-exchange-coindcx-denies-moving-user-funds-after-wazirx-allegations