The cryptocurrency world in India is booming, and new apps promise easy trading, zero fees, and instant withdrawals. Krypto (letskrypto.com) is one such platform, advertising “0% trading fees” and AI-powered tools.
But behind the scenes, troubling reports are emerging: withdrawal failures, silent support, disappearing offices, and legal strife. Before you deposit a single rupee, here’s what the evidence says — from user accounts, court filings, and regulatory signals.
What Krypto Claims vs What It Reveals Publicly
- Promises: Trade, buy, sell, pay with crypto; AI assistors; no trading fees.
- Public gaps: Minimal team or corporate disclosure, lack of direct contact or registration details, no technical whitepapers, or verification of AI modules.
Legal & Corporate Turmoil: Evidence from Courts
- In NCLT CP-23/ND/2024, Vaibhav Shukla (former cofounder / CBO) filed a petition against Inventphile Ventures (Krypto’s parent), alleging shareholder disputes, asset diversion, misuse of company resources, and forced ouster.
- The Delhi High Court (December 12, 2023) has granted an interim injunction (CS (COMM) 855/2023), restraining defendants (including Brine / Brinerds) from using “Brine / LetsKrypto” branding, citing trademark infringement, IP misuse and unauthorized transfers.
- The court documents include detailed claims of transfers of cryptos and user data, and flag internal governance disputes.
- Reporting by Inc42 confirms that Shukla accuses the current promoters of siphoning funds into shell structures (notably BRS Tech in BVI), misusing IP, misappropriating user crypto, and orchestrating control changes.
Gaps/inconsistencies in public disclosures
- Their “Know more about us” page is minimal, with no clear listing of directors, registration numbers, or headquarters addresses.
- They lack a detailed “About Us / Team / Leadership / Legal / Company Info” section that one expects from a financial platform.
- Their public narrative leans heavily on buzzwords like “AI assistors” without transparent documentation or technical whitepapers showing how the AI works.
Krypto App Red Flags
Here are patterns observed across multiple user reports — they align closely with typical scam or failing-exchange behavior:
| Type of Issue | Description | Supporting Evidence / Observations |
|---|---|---|
| Withdrawal Failures / Freezes | Users deposit funds/crypto but cannot withdraw. Withdrawal requests are delayed, canceled, or not processed. | Multiple Trustpilot and user feedback comments: “Fraud company… not able to withdraw money.” |
| Changing Minimum / New KYC Hurdles | After depositing, users are told of updated (often higher) minimums or additional KYC, supposedly to “release funds.” | Common in scam reports and echoed in forums |
| Silent / Unresponsive Support | Emails bounce, live chat doesn’t respond, social media is inactive. | Emails bounce, live chat doesn’t respond, and social media is inactive. |
| Office Disappearance | Users who tried to visit the listed office (e.g., Bangalore / HSR Layout) claim it was locked, empty, or inaccessible. | Anecdotal user postings; matching with listed address records (though not verified by official records) |
| Buzzwords Without Proof | AI, “instant withdrawals,” “0% fees” — these are strong claims without public proof, audits, or technical validation. | The lack of technical transparency undermines these claims. |
| Opaque Ownership / Hidden Registrant | The lack of public disclosures on directors, ownership, and company registration raises concerns. | Public lacks “About / Team” info, absence of on-site corporate detail pages. |
These align with patterns seen in exchange scams or failing platforms.
Why These Issues Matter to You?
- Corporate disputes can lead to asset freezes, loss of operational control, and shutdowns
- Legal injunctions on branding or IP may disrupt or disable parts of the platform
- Lack of transparency makes recourse difficult
- If you’ve deposited funds, you may become an unsecured creditor in a worst-case collapse
How to File a Complaint Against the Krypto App?
- Verify Domain Ownership / WHOIS now, and archive the snapshot
- Check MCA / RoC records for Inventphile & linked entities — note directors, filings
- File a complaint in Cyber Crime
- Collect evidence (screenshots, bank statements, app logs) with timestamps
- Seek legal aid or class action options depending on losses
Need Help?
If you have been unfortunate and added funds to this or any similar app, then take quick action. Register with us, and we will guide you through the process to lodge a complaint and further escalation, if required.
Conclusion
Krypto’s marketing is polished and tempting — but the evidence suggests it may be a high-risk platform with internal instability. The convergence of user complaints and legal filings strongly supports treating Krypto as highly suspicious, not a safe exchange.
Before depositing any funds, demand solid transparency: verified domain ownership, trade license/registration, audited financials, public executives, and proof of user redemption history. In crypto, trust must be earned — not claimed.
