{"id":6133,"date":"2025-07-29T11:57:02","date_gmt":"2025-07-29T11:57:02","guid":{"rendered":"https:\/\/bitunikey.com\/news\/indias-coindcx-shuts-down-coinbase-acquisition-talks\/"},"modified":"2025-07-29T11:57:09","modified_gmt":"2025-07-29T11:57:09","slug":"indias-coindcx-shuts-down-coinbase-acquisition-talks","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/indias-coindcx-shuts-down-coinbase-acquisition-talks\/","title":{"rendered":"India\u2019s CoinDCX shuts down Coinbase acquisition talks"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p>Reports claiming Coinbase is planning the acquisition of India-based crypto exchange CoinDCX have been denied by the company\u2019s leadership.<\/p>\n<div id=\"cn-block-summary-block_cd36d30a60705f38372fd13fa1fb7fb4\" 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>The Indian crypto exchange is not for sale, according to its CEO.<\/li>\n<li>Rumored deal valued CoinDCX under $1B, significantly below its $2.2B valuation in 2021.<\/li>\n<li>CoinDCX suffered a major hack earlier this month.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>In a July 29 X post, CoinDCX CEO Sumit Gupta shut down the rumors directly, saying the platform is not for sale.<\/p>\n<p>\u201cIgnore the rumours! CoinDCX is not up for sale,\u201d the CEO wrote. Two other founding partners quickly echoed the message, stressing that the exchange is focused on building locally.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The rumours are false. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/CoinDCX?ref_src=twsrc%5Etfw\" target=\"_blank\">@CoinDCX<\/a> is building from India for the world!\u00a0\ud83c\uddee\ud83c\uddf3<\/p>\n<p>We are also actively hiring across multiple roles! <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/z2dcODuxZX\" target=\"_blank\">https:\/\/t.co\/z2dcODuxZX<\/a><\/p>\n<p>\u2014 Mridul Gupta (@mri_gup) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/mri_gup\/status\/1950125307077275889?ref_src=twsrc%5Etfw\" target=\"_blank\">July 29, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>The report, first published by a local Indian media outlet, suggested that Coinbase, which already holds stakes in CoinDCX and rival CoinSwitch, was looking to expand its Indian presence by buying the platform.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Coinbase briefly entered the Indian market in 2022 but pulled back after facing regulatory pressure. However, in March, the exchange secured a Financial Intelligence Unit (FIU) license. This has since prompted speculation about a return, adding weight to the CoinDCX acquisition reports.<\/p>\n<p>The report also claimed CoinDCX was being valued at under $1 billion, well below its $2.2 billion peak in 2021, and came just days after a breach on the platform, fueling speculation that financial pressure might be driving a potential sale.<\/p>\n<h3 class=\"wp-block-heading\">Background on the CoinDCX hack<\/h3>\n<p>On July 19, attackers drained roughly $44 million in assorted assets from an internal wallet tied to a partner exchange. CoinDCX later confirmed that customer funds in cold storage were untouched and said the loss was fully covered using treasury reserves.<\/p>\n<p>The stolen assets were laundered through mixing tools like Tornado Cash and cross-chain bridges, obscuring the trail and making recovery efforts difficult. The breach marked another major hit to India\u2019s exchange scene, following the 2024 WaziriX incident.<\/p>\n<p>CoinDCX has since launched a recovery strategy, including a 25% bounty for reclaimed funds. Two wallets linked to the attackers holding over 155,000 SOL and 4,400 ETH also remain under observation, though no recovery has been reported so far.<\/p>\n<p>The exchange\u2019s denial now suggests it\u2019s standing firm for now, though it remains unclear whether the decision stems from rejecting a low valuation or if there were never any talks with Coinbase to begin with.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reports claiming Coinbase is planning the acquisition of India-based crypto exchange CoinDCX have been denied by the company\u2019s leadership. Summary The Indian crypto exchange is not for sale, according to&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6133","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\/6133","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=6133"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6133\/revisions"}],"predecessor-version":[{"id":6134,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6133\/revisions\/6134"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/2400"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}