[Indian Court Rules Fraud Allegations Against CoinDCX Founders Unfounded, Grants Bail] According to Cointelegraph, the Thane District Court in India has approved the bail applications of CoinDCX co-founders Sumit Surendra Gupta and Niraj Ashok Khandelwal, ruling that the ₹710,000 (approximately $75,000) fraud allegations against them are unfounded. The case involved a fraudulent trading platform impersonating CoinDCX. The court noted that the investigating officer raised no objections to their release, and the applicants were not present at the crime scene. Instead, another individual impersonated them to commit the fraud, a fact the complainant admitted in court. CoinDCX stated on the X platform that the court's ruling confirmed the fraud was perpetrated by third-party impersonation, which occurred on the counterfeit website coindcx.pro and was unrelated to the company. The court also pointed out that the complainant had submitted an affidavit stating that another defendant had repaid the defrauded funds and that the applicants were not the individuals they met at the café. Each founder is required to pay a ₹50,000 bond for release and cooperate with the investigation.