In the Guru Dutt classic Pyaasa, made in 1957, the protagonist Vijay offers his coat to a beggar who gets run over by a train. The world presumes the poet is dead, leading to the posthumous publication of his work and a dubious fame that becomes an object of literary debate. That came to my mind as the mistaken arrests, and subsequent bail, of the co-founders of CoinDCX hit the headlines.
Taking off from Pyaasa, you could slam mistaken arrests as poetic injustice, but what CoinDCX has done overturns it to something like a romantic version of justice. The cryptocurrency exchange has announced a Rs 100-crore cyber safety fund called the Digital Suraksha Network, aimed at strengthening India’s digital finance ecosystem.
Early evidence suggests that CoinDCX was not at all involved in transactions linked to the alleged fraud. The irony is that Sumit Gupta and Neeraj Khandelwal were held by police in a case linked to a fraudulent website that impersonated their own brand.