Overview

• CoinDCX’s CEO Sumit Gupta and co-founders publicly refuted reports of advanced negotiations with Coinbase, declaring the exchange is not for sale and remains focused on India’s market.
• Earlier this month, attackers siphoned roughly $44 million from an operational liquidity wallet, but customer funds remained untouched in cold storage and losses were covered by the company’s treasury.
• The exchange launched a bounty program offering up to 25% of recovered assets, capped at $11 million, and has fully isolated the compromised wallet to bolster its defenses.
• CoinDCX is bolstering its leadership bench with over 100 open roles, including key positions such as CFO and general counsel, to drive its domestic expansion.
• Coinbase has not confirmed or denied the takeover rumors and is advancing its India strategy after securing an FIU license in March and expanding through acquisitions and equity stakes.