According to reports, COINDCX’s acquisition by Coinbase is in advanced discussions, arriving only a few weeks after the exchange was targeted in a $ 44 million encryption robbery.
A local publication, citing unknown sources, published an article on July 29, 2025, revealing that the agreement would appreciate COINDCX below $ 900 million, a strong drop compared to its evaluation peak of $ 2.2 billion in 2021.
The experts in the sector have marked the acquisition of COINDCX by Coinbase as its broader strategy to obtain a strategic point of support in the evolving encryption panorama of India.
According to reports, the crypto -crypt giant is in advanced discussions to acquire Exchange COINDCX with an evaluation of less than 1 billion dollars, a significant drop with its peak of 2.2 billion dollars in 2021.
This potential acquisition follows a security violation of $ 44 million disclosed … pic.twitter.com/9gjapr7pua
– @entrepreneurind (@entrepreneurind) 29 July 2025
The publication cited an employee of the sector by stating: “This is a bet calculated with a discount, positioning the rise if the India’s cryptocurrency market finds its step”.
The CEO of COINDCX, Sumit GUPTA, quickly rejected the news on X, dissipating this development as a simple voice.
GUPTA wrote on X: “We are focused on the laser in the construction of the encryption future of India, not to run out. More details soon, but they had to clarify this immediately”.
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Coinbase on acquisition spine, intends to launch the retail cryptocurrency trade in India
Coinbase is on a madness of global acquisition. In May 2025, he sealed an agreement in cash and stocks for a value of $ 2.9 billion to acquire Deribit, an exchange of cryptographic derivatives specialized in Futures’ options and trading, reporting the passage of Coinbase in the cryptocurrency derivatives sector.
In addition, Coinbase also acquired Liciqui, a token management platform oriented towards innovators on the initial chain, adding another resource to its expanding web3 toolkit.
The company initially launched in India in April 2022, but had to quickly close its UPI payments and negotiations under the directives of the Reserve Bank of India (RBI). Coinbase stopped his operations in the Indian market on September 25, 2023; However, he did not leave the Indian market.
He respected Fiu in March 2024 and received permission to start his cryptocurrency trading services in India.
The local publication cited a representative of Coinbase, stating: “We have a bold mission to increase economic freedom in the world and constantly explore opportunities all over the world to build, buy, partners and invest to speed up our roadmap”.
According to reports, Coinbase is also taking into consideration the consolidation of his participation both in COINDCX and in Mssia. The insiders consider this probable move; However, no news has emerged confirmed at the moment.
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Inside COINDCX Breach
This speculation follows a massive violation of safety in COINDCX, leading to a loss of $ 44 million. The hackers entered the COINDCX operating portfolio on July 19, 2025, used for liquidity provisions with other exchanges.
The investigations revealed that the hackers entered through a server violation and emptied the wallet in a few minutes. The computer security experts have connected this robbery to the notorious North Korean Lazarus group since the accident follows patterns similar to last year’s Wazirx hack, with consequent loss of $ 234 million.
Our system detected a hack in @Coindcx Centralized Exchange 20 hours ago.
Here’s what we know:
– The hacker stole about $ 44.2 million in USDC/USDT by one of the operating wallets of the exchange on Solana.
– The hacker financed the hacking with 1 ETH from Tornado Cash.
– part of the … pic.twitter.com/5pliaz6m4–
NOTICES OF CITRINI
COINDCX has ensured its users through an X post, explaining that the accident did not damage customer funds and that its safety configuration protected the user funds during the accident.
From the accident, COINDCX has launched a program of sizes to trace the stolen funds and promised ethical hackers 25% of any recovered funds they managed to recover.
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Keyway keyway
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According to reports, Coinbase is in negotiations to acquire COINDCX while leaving in its Indian expansion strategy
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According to reports, the agreement has set the COINDCX evaluation to $ 900 million, a strong drop compared to its $ 2.2 billion peak in 2021
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COOB CEO COINDCX Sumit GUPTA has rejected this development as speculation
According to reports, the acquisition of COINDCX by Coinbase in the final stages of the sub $ 1b evaluation appeared for the first time on 99 bitcoins.