The acquisition of Coindcx by Coinbase is in advanced discussions, coming only a few weeks after the stock market was targeted in a crypto robbery of $ 44 million.
A local publication, citing unknown sources, published an article on July 29, 2025, revealing that the agreement would appreciate the Coindcx less than $ 900 million, a sharp decline compared to its peak of evaluation of $ 2.2 billion in 2021.
The initiates of the industry have written the acquisition of Coindcx by Coinbase as its wider strategy to take a strategic footing in the cryptographic landscape evolving from India.
Us Crypto Giant Coinbase is said to be in advanced discussions to acquire Indian Exchange Coindcx at an evaluation of USD 1 billion, a significant drop in relation to its peak of 2.2 billion USD in 2021.
This potential acquisition follows a security violation of 44 million USD disclosed… pic.twitter.com/9gjapr7pua
– @entrepreneurind (@entrepreneurind) July 29, 2025
The publication quoted an initiate of the industry declaring: “This is a bet calculated at a discount – positioning for the increase if the Indian cryptography market finds its stride.”
The CEO of Coindcx, Sumit Gupta, quickly rejected the news on X, dissipating this evolution as a simple rumor.
Gupta wrote on X: “We are focused on the laser on the construction of the future of India cryptography, without selling. More details soon, but we had to clarify right away. ”
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Coinbase on acquisition spree, intends to launch the retail crypto trade in India
Coinbase is on a world series of acquisition. In May 2025, he sealed a cash and stock agreement worth 2.9 billion dollars to acquire Deribit, an exchange of cryptographic derivatives specializing in term options and negotiations, signaling the passage of Coinbase in the cryptographic derivative sector.
In addition, Coinbase has also acquired Liquifi, a tokens management platform for chain innovators at an early stage, adding another asset to its expanding web3 toolbox.
The company initially launched in India in April 2022, but had to quickly finish its payments and exchange UPI under the directives of the Bank of India (RBI) reserve. Coinbase interrupted its operations on the Indian market on September 25, 2023; However, he did not leave the Indian market.
He respected the CRF in March 2024 and received permission to start his cryptographic trading services in India.
The local publication has cited a Coinbase representative, declaring: “We have a bold mission to increase economic freedom in the world and constantly explore opportunities around the world to build, buy, associate and invest in accelerating our roadmap.”
It would seem that Coinbase also envisages the consolidation of its participations in Coindcx and Coinswitch. Insiders of the industry consider this probable decision; However, no new confirmed has been surfaced for the moment.
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Broyster inside Coindcx
This speculation follows a massive security violation at Coindcx, resulting in a loss of $ 44 million. The hackers entered the Coindcx operational portfolio on July 19, 2025, used for liquidity provisions with other exchanges.
The surveys revealed that the hackers entered via a server breach and drained the wallet in a few minutes. Cybersecurity experts have linked this robbery to the infamous North Korean group Lazarus since the incident followed models similar to the Wazirx hack last year, resulting in a loss of $ 234 million.
Our system has detected a pirat @Coindcx Centralized exchange 20 hours ago.
Here is what we know:
– The pirate stole approximately $ 44.2 million in USDC / USDT at one of the operational portfolios of the Solana exchange.
– The pirate financed the hacking with 1 ethn of Tornado Cash.
– part of the … pic.twitter.com/5PLLIAZ6M4–
Cywer alerts
Cywer alerts Coindcx assured its users via an article on X, explaining that the incident did not harm customer funds and that its safety configuration protected user funds during the incident.
Since the incident, Coindcx has launched a bonus program to retrace stolen funds and has promised ethical pirates 25% of the recovered funds they have managed to recover.
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Main to remember
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Coinbase would be in talks to acquire Coindcx while he moves his Indian expansion strategy away
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It would seem that the agreement has established the evaluation of Coindcx at $ 900 million, a sharp drop compared to its peak of $ 2.2 billion in 2021
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CEO of Coindcx, Sumit Gupta, rejected this development as a speculation
The post-Coindcx acquisition by Coinbase would have been in the final phase at an assessment of less than $ 1 billion appeared first on 99Bitcoins.
