New Delhi, March 23 -- The Thane police have arrested cryptocurrency exchange platform CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal in connection with an alleged fraud of Rs.71.6 lakh, officials said on Monday.

The company, however, claimed the FIR was false, and there was a conspiracy against CoinDCX by impersonators posing as its founders and cheating the public.

The arrests were made following an FIR registered on March 16 at the Mumbra police station in Maharashtra's Thane city against CoinDCX co-founders Gupta, Khandelwal and others on charges of cheating, criminal breach of trust and fraud, according to officials.

A 42-year-old insurance advisor, the complainant in the case, alleged that he was duped of Rs.71.6 lakh betw...