Techub News reports, according to CoinDesk, that CoinDCX CEO Sumit Gupta has refuted allegations of transferring user funds to non-compliant entities in Lithuania. These allegations were made by WazirX, which is under scrutiny after suffering a $230 million hack. Sumit Gupta emphasized that CoinDCX's user funds are held by Neblio Technologies, a fully compliant entity in India.