CoinDCX Purchase By Coinbase Allegedly In Final Phases At Below $1B Valuation
The acquisition of CoinDCX by Coinbase is said to be in advanced stages, following a recent $44 million cryptocurrency theft that targeted the trading protocol.
A regional news outlet, referencing unnamed sources, published an article on 29 July 2025, indicating that the valuation of CoinDCX would fall below $900 million, marking a significant drop from its valuation high of $2.2 billion in 2021.
Insiders in the industry believe that the Coinbase acquisition of CoinDCX is part of a larger strategy to establish a foothold in India’s shifting crypto asset market.
The US digital currency leader Coinbase is reportedly in advanced talks for acquiring the Indian trading platform CoinDCX at a valuation under USD 1 billion, a considerable decline from its USD 2.2 billion peak in 2021.
This potential acquisition comes in the wake of a USD 44 million safety breach disclosed… pic.twitter.com/9GJAPR7PuA
— @EntrepreneurInd (@EntrepreneurIND) July 29, 2025
The article quoted an industry insider as saying, “This is a strategic move at a reduced price—preparing for potential gains if India’s cryptocurrency trading market gains traction.”
Sumit Gupta, CEO of CoinDCX, swiftly refuted the reports on X, characterizing this announcement as mere speculation.
Gupta stated on X, “Our focus remains on shaping India’s digital currency future, not on selling. More information will be shared shortly, but I wanted to clarify this immediately.”
Explore: Top 20 Crypto to Buy in July 2025
Coinbase On Acquisition Spree, Aims To Launch Retail Crypto Trading In India
Coinbase is actively pursuing acquisitions around the globe. In May 2025, it finalized a cash and stock transaction valued at $2.9 billion for Deribit, a crypto derivatives trading protocol focusing on options and futures trading, highlighting Coinbase’s entry into the crypto derivatives crypto market.
Additionally, Coinbase has acquired Liquifi, a platform for crypto token management aimed at supporting early-stage on-chain innovators, augmenting its growing Web3 capabilities.
The company initially entered the Indian market in April 2022 but had to rapidly discontinue its UPI payment options and trading due to directives from the Reserve Bank of India (RBI). Coinbase suspended its operations in India on 25 September 2023; however, it did not withdraw entirely from the Indian market.
In March 2024, it complied with the Financial Intelligence Unit (FIU) and was granted approval to resume its crypto trading services in India.
The local announcement outlet quoted a Coinbase representative saying, “We have an ambitious mission to enhance economic freedom globally, and we continually seek opportunities worldwide to build, acquire, partner, and invest to expedite our plans.”
It has been reported that Coinbase is considering consolidating its stakes in both CoinDCX and CoinSwitch. Industry insiders consider this move likely; however, there has been no confirmed information up to this point.
Explore: The 12+ Hottest Crypto Presales to Buy Right Now
Details on CoinDCX Breach
This speculation comes on the heels of a significant security breach at CoinDCX, which resulted in a rekt of $44 million. On 19 July 2025, hackers infiltrated CoinDCX’s operational wallet used for market fluidity with other exchanges.
Investigations uncovered that the hackers accessed the system through a server breach and drained the digital wallet in minutes. Cybersecurity experts have connected this theft to the notorious North Korean Lazarus Group, noting that the incident shares similarities with the WazirX exploit from last year, which led to a $234 million loss.
Our system has detected a breach of @CoinDCX centralized exchange 20 hours ago.
Here’s what we know:
– The hacker absconded with approximately $44.2M in USDC/USDT from one of the exchange’s operational wallets on Solana.
– The hacker initiated the breach using 1 Ethereum from Tornado Cash.
– Part of the… pic.twitter.com/5PLliaZ6m4—
Cyvers Alerts
CoinDCX reassured its customers through a post on X, clarifying that the event did not compromise customer funds and that its protection measures safeguarded user assets throughout the incident.
In response to the breach, CoinDCX has introduced a bounty program aimed at recovering the stolen assets and has committed to awarding ethical hackers 25% of any amounts they succeed in retrieving.
Explore: 20+ Next Crypto to Explode in 2025
Essential Insights
- Coinbase is currently in negotiations to acquire CoinDCX as it progresses with its expansion into the Indian trading market
- The deal is reported to value CoinDCX at $900 million, a substantial decrease from its prior $2.2 billion valuation in 2021
- CoinDCX CEO Sumit Gupta has characterized this announcement as unsubstantiated speculation
The post CoinDCX Acquisition By Coinbase Reportedly In Final Stages At Sub $1B Valuation appeared first on 99Bitcoins.
