| Name of Complainant | |
| Date of Complaint | February 9, 2026 |
| Name(s) of companies complained against | Coindcx |
| Category of complaint | Corruption |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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BILLION DOLLAR CRYPTO SCAM BY COINDCX
The Finance Ministry, RBI, PMO ignored the scam even after informing them via Email. They could have stopped it.
On 2nd of Feb.2026 Dogelon Mars(ELON) coin price spiked from Rs. 0.00000401 to Rs. 60.47. This coin is also identified as ELON/USDT. You can check the coin price in other platforms like Binance and Bybit. It’s trading at Rs.40 to 50 range. This spike happened in all the crypto platforms, including coindcx. Investors saw a huge profit in billions with their small investments.
Then immediately, coindcx stopped trading in the Dogelon Mars(ELON) coin. They did not allow the investors to sell the coins and book profit, whereas other exchanges allowed trading in the same coin. Now the investors were trapped. Coindcx helpline told all the investors that it’s temporary maintenance and things will be resolved soon.
All the investors waited for the issue to be fixed, and they could sell their coins and book profit. But then coindcx made an announcement that they are delisting Dogelon Mars ELON coin from their platform, and they will rebrand it. They planned to replace the coin with another coin with the same name, DOGELONMARS. They called it rebranding of the token. They announced to split the coin in 1:1 ratio. But Dogelon Mars(ELON) was trading at Rs.40 to Rs.60. Now the question is how 1 Dogelon Mars(ELON) is equivalent to 1 DOGELONMARS. Because DOGELONMARS price was around 0.00000003389 USD. The math don’t fit here.
The new coin DOGELONMARS will not have the same price, not even around the previous one. All my unrealized profits are lost. The dollars which we could have brought to India are lost. I wrote an email to the finance ministry, PMO, RBI and The Financial Intelligence Unit India about this scam and told them that this kind of scam is going to happen.
I had a conversation with the Coindcx team. They accepted the mistake from their side. All my profits are gone because of the mistake made by Coindcx. In the first place, they should not have listed a duplicate token of the same name Dogelon Mars(ELON). They played with the sentiment of the investors. They must compensate for the loss because of their mistake. I had an unrealized profit of Rs.150 crore. And now the whole profit is gone.
Hence, I have decided to take this matter to the court of law for justice. Coindcx has made an unfair practice which created unfaithfulness on the crypto exchanges across India. So they are answerable in the court of law. I demand compensation for my loss.
The bottom line is, CoinDCX offered me a coin named Dogelon Mars(ELON) which I bought. And when I saw profit in that coin, I tried to sell it but CoinDCX did not allow me to sell it. They replaced the coin with a different coin with the same name. As a result, I lost the profit. That’s cheating and dishonesty (IPC 420), Criminal breach of trust (IPC 406/409) and forgery (IPC 463/464/468).
Regards,
Sandeep Nayak
