{"id":6089,"date":"2025-07-29T03:25:34","date_gmt":"2025-07-29T03:25:34","guid":{"rendered":"https:\/\/bitunikey.com\/news\/coinbase-allegedly-in-talks-to-acquire-indias-coindcx-for-under-1b-following-44m-hack\/"},"modified":"2025-07-29T03:25:36","modified_gmt":"2025-07-29T03:25:36","slug":"coinbase-allegedly-in-talks-to-acquire-indias-coindcx-for-under-1b-following-44m-hack","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/coinbase-allegedly-in-talks-to-acquire-indias-coindcx-for-under-1b-following-44m-hack\/","title":{"rendered":"Coinbase allegedly in talks to acquire India\u2019s CoinDCX for under $1B following $44M hack"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Coinbase is in advanced talks to acquire CoinDCX after a $44M hack, offering less than half of what CoinDCX was valued at in the last bull market.<\/p>\n<div id=\"cn-block-summary-block_4b54fbc530c0a44d47869de794b5d982\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Coinbase is negotiating to acquire CoinDCX for under $1 billion, deepening its investment in India\u2019s crypto sector.<\/li>\n<li>CoinDCX recently lost $44 million in a major hack, raising questions about operational risk and trust.<\/li>\n<li>The acquisition would help Coinbase build a stronger presence in India ahead of upcoming crypto regulations.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Coinbase is allegedly in advanced negotiations to acquire CoinDCX, India\u2019s largest cryptocurrency exchange, as the U.S. firm seeks to grow its presence in one of the world\u2019s fastest-growing crypto markets. <\/p>\n<p>The deal, first <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.livemint.com\/companies\/news\/coinbase-coindcx-44-million-crypto-heist-us-cryptocurrency-coinswitch-11753706315291.html\" target=\"_blank\">reported<\/a> by Indian media Livemint on July 29, could value CoinDCX at under $1 billion, down sharply from its 2021 peak of $2.2 billion.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Coinbase\u2019s strategic bet on India<\/strong><\/h2>\n<p>For Coinbase, the deal would mark its second major acquisition this year, following the $2.9 billion purchase of Deribit. It also follows smaller M&amp;A activity with crypto startups Liquifi, Spindl, and Iron Fish. Coinbase already holds equity stakes in both CoinDCX and its competitor CoinSwitch.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The acquisition would accelerate Coinbase\u2019s re-entry into India after securing a Financial Intelligence Unit license in March. The company briefly launched operations in the country in 2022 before pulling back due to regulatory challenges. <\/p>\n<p>A finalized deal would position Coinbase to scale its trading services in India just as the government is preparing its first formal crypto policy.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Deal comes after major security breach at CoinDCX<\/strong><\/h2>\n<p>The timing follows a $44 million hack that hit CoinDCX earlier this month. On July 19, attackers drained funds from an internal hot wallet used for liquidity provisioning on a partner exchange. Customer funds, which remained in cold storage, were not affected. <\/p>\n<p>The company confirmed it used treasury reserves to fully cover the loss and has since launched a bounty program offering up to 25% of any recovered funds, capped at $11 million. Blockchain investigator ZachXBT flagged the breach, revealing that the attackers used Tornado Cash and cross-chain bridges to obfuscate fund movements. <\/p>\n<p>Two wallets holding over 155,000 Solana (SOL) and 4,400 Ethereum (ETH) remain under observation. While speculation has pointed to North Korea\u2019s Lazarus Group, the attribution remains unconfirmed.<\/p>\n<p>As part of its response, CoinDCX halted web3 services, processed more than 31,000 withdrawal requests in a single day, and put new security measures in place. The breach has reignited scrutiny over Indian centralized exchanges, with critics pointing to CoinDCX\u2019s high hot wallet exposure and a lack of transparent custody audits.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase is in advanced talks to acquire CoinDCX after a $44M hack, offering less than half of what CoinDCX was valued at in the last bull market. Summary Coinbase is&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=6089"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6089\/revisions"}],"predecessor-version":[{"id":6090,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6089\/revisions\/6090"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3946"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}