Important insights:
- Coindcx CEO Sumit Gupta has recently refused rumors about an acquisition of $ 900 million by Coinbase.
- The company recovers a hack of $ 44 million but is still financially strong and operational.
- Coindcx has launched a premium program to trace and restore its stolen funds.
In the past week, Indian Crypto Exchange Coindcx was in the center of the Acquisition rumors. According to the reports, Coinbase, the Crypto giant-based in the US was in “advanced discussions” to buy coindcx for $ 900 million.
This is a huge agreement compared to his earlier $ 2.2 billion appreciation in 2021 and according to Coindcx’s co-founder and CEO Sumit Gupta in a post divided on X, the public should “ignore the rumors” and the company is “not for sale”.
Coindcx recovers from $ 44 million hack
“On the way down and super focused on building. That is what is important and brings us closer to our mission for India to be a global web3 -superp power,” Gupta wrote in his message.
Goes down and super focused on building. That is what is important and brings us closer to our mission to India to be a global web3 -suking power. đź’Ş
Build from India 🇮🇳 for the world 🌍
– Sumit Gupta (Coindcx) (@Smtgpt) July 29, 2025
The acquisition airs come on the heels of a large hack on July 18, when Coindcx lost $ 44.2 million to hackers who exploited an error in one of the company’s operational portfolios.
According to Gupta, the compromised wallet was used for liquidity provision with a different exchange. The hack came from a server attack with which the hackers could quickly empty the wallet.
While the incident evoked problems, Gupta reassured Users who were customer funds safe. The affected wallet contained no user deposits and the platform remained fully functional during the test.
Recovery efforts and security machines
In response to the hack, Coindcx took steps to strengthen his defense and to reclaim lost money. The company recently launched a Recovery Bounty program, which is aimed at White Hat -Hackers and security researchers.
The premium offers up to 25% of all demanded funds for those who help trace and collect the stolen assets.
Until now, security incidents have increasingly occurred in the crypto space of India. Last year Wazirx, another large Indian fair, had a $ 240 million hack.
These incidents show the need for stronger security policy as the local crypto industry grows.
Coinbase is expanding, but is silent about the rumors
Coinbase, who has not confirmed or denied rumors, has been actively expanded.
Coinbase has been viewing the Indian market for some time. Earlier this year it registered with the India’s Financial Intelligence Unit, which is a signal that it may be preparing to restart the activities in the country.
The platform had paused its expansion efforts in India in 2022 after the regulatory obstacles.
Given the Indian population of 1.4 billion people and a fast -growing technical room, it is clear why global fairs such as Coinbase are interested in the region. A successful acquisition would have offered Coinbase an immediate foot in India through the existing user base of Coindcx.
Recent Coinbase -acquisitions show strategic focus
Coinbase has had an acquisition spree in recent months. In May, the company acquired Crypto -deribat Deribit in a deal worth $ 2.9 billion.
Moreover, Coinbase has also taken over Liquifi, a token management platform that supports Web3 developers at an early stage.
Given this pattern, it is understandable why some people believed the coindcx rumor. However, the official denial by Gupta suggests that Coindcx intends to remain independent, at least for the time being.
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