CoinDCX Founder Denies Coinbase Acquisition Talks Following $44 Million Hack – Decrypt

Briefly
CoinDCX CEO Sumit Gupta denied experiences that Coinbase is in talks to accumulate the trade, calling the claims “rumors.”
The information comes after CoinDCX was hacked for $44.2 million hack on July 18, prompting the trade to launch a bounty program.
Coinbase, already FIU-registered in India, is eyeing deeper enlargement because it allegedly considers consolidating investments in CoinDCX and rival CoinSwitch.
Indian crypto trade CoinDCX isn't on the market, a minimum of based on co-founder and CEO Sumit Gupta, who shot down claims that crypto big Coinbase is in superior talks to accumulate the trade.Gupta took to X on Tuesday to dismiss a Mint report claiming Coinbase is in dialogue to accumulate CoinDCX for almost $1 billion, simply 11 days after hackers drained $44.2 million from the corporate's operational pockets.”Ignore the rumours! CoinDCX is ‘tremendous targeted' on constructing for India's crypto story and never up on the market,” he tweeted. “Will share extra later however simply wished to make clear this upfront!”When requested for remark, CoinDCX redirected Decrypt to Gupta's tweet.
Simply received up and noticed this information! 😅
Ignore the rumours! CoinDCX is “tremendous targeted” on constructing for India’s crypto story and never up on the market!
Will share extra later however simply wished to make clear this upfront!
— Sumit Gupta (CoinDCX) (@smtgpt) July 29, 2025A deal might worth CoinDCX at lower than $900 million, a pointy drop from its peak $2.2 billion valuation three years in the past, based on the report, citing unnamed sources.Coinbase reportedly views this as a “long-term strategic guess” and a “low-cost gamble” to place itself in India's rising crypto market.The trade has but to reply to Decrypt’s request for remark.“Coinbase’s potential acquisition of CoinDCX validates that view and indicators the size of what’s to return,” Upmanyu Misra, former Citibank and JP Morgan funding banker and threat coverage advisor, advised Decrypt.“Regulatory readability is accelerating strategic consolidation, with international gamers transferring quick to outpace native rivals, safe prime expertise, and lock in market share, Mishra added, calling it an “opening transfer” for wider trade restructuring.In the meantime, Coinbase, already registered with India’s Monetary Intelligence Unit (FIU) since March, has been vocal about its ambitions within the area.“India represents one of the thrilling market alternatives on this planet at this time,” John O’Loghlen, Coinbase’s APAC Managing Director, stated in a March weblog put up asserting the information.The report additionally indicated Coinbase would possibly discover merging its current investments in each CoinDCX and competitor CoinSwitch.“We do not have lively conversations on this regard at the moment,” CoinSwitch advised Decrypt, addressing the rumors.“We imagine competitors is sweet and it'll in the end profit customers,” the trade stated. “And with our understanding of the Indian ecosystem, we are going to proceed to be a frontrunner in India’s crypto ecosystem.”The rumors of a potential acquisition surfaced lower than two weeks after CoinDCX skilled a significant safety breach, one which shook India’s crypto group and raised questions in regards to the trade’s resilience.Following the hack, the trade introduced it might take in the total loss from its treasury reserves and launched a restoration bounty program providing white hat hackers as much as 25% of recovered funds.Every day Debrief NewsletterStart day by day with the highest information tales proper now, plus authentic options, a podcast, movies and extra.