Summary of this article
Media reports suggest Coinbase may acquire CoinDCX post $44M breach.
CoinDCX denies rumours of acquisition talks with Coinbase.
Co-founders confirm the company isn’t for sale, and committed to the Indian crypto market.
Indian crypto exchange CoinDCX has once again come under the spotlight following a reported $44 million security breach. While some media reports suggest that the company is in early-stage talks with Coinbase, a global crypto firm, about a possible acquisition, CoinDCX has denied these claims.
CoinDCX Denies Acquisition Talks
CoinDCX co-founder Sumit Gupta took to X to address the ongoing speculation around the company's future, firmly stating: "Ignore the rumours! CoinDCX is super focused on building for India's crypto story and not up for sale!" He added that more updates would follow, but he wanted to set the record straight right away, signalling the company's continued commitment to the Indian market. Neeraj Khandelwal also clarified the buzz as mere rumours, signalling that CoinDCX remains committed to building for the community.
While CoinDCX has denied all reports of takeover, the company is also going through a difficult period with the recent $44 million security breach. It is established in 2018, facilitates access to a broad range of cryptocurrencies and digital assets for Indian users.
This acquisition buzz surfaced just about 10 days after CoinDCX faced a $44 million hack. The incident has sparked concern, particularly as the compromise implicated an internal operational account utilised for liquidity on partner exchanges. While the company assured that no customer funds were impacted, this had already raised concerns.
CoinDcx has responded to the recent security breach by offering a bounty bug of up to $25 million in an effort to boost fund returns and detect security problems.
Coinbase, which already holds few stakes in both CoinDCX and CoinSwitch, had to halt its services in India in 2023. In March 2025, India's Financial Intelligence Unit (FIU) gave its approval to resume. Its reappearance has increased industry discussions about alliances, strategic expansions and potential consolidations in the Indian cryptocurrency market.
