CoinDCX Says “Not for Sale” to Coinbase: A Crypto Love Story 🤍

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Amidst the swirling mists of speculation, the whispers of a grand union between Coinbase and India’s CoinDCX have been silenced by the very voice of CoinDCX itself. In a world where every rumor breathes life into the market’s heart, CoinDCX’s leadership has decided to play the part of the unyielding guardian, keeping their gem safe from the grasping hands of the West. 🛡️

  • The Indian crypto exchange, a fortress of digital dreams, stands tall, declaring it is not for sale, as per the decree of its CEO.
  • The rumored dalliance, which would have valued CoinDCX at less than a billion dollars, seems a distant echo of its $2.2 billion glory in 2021.
  • A recent hack, a shadow cast over the exchange, only adds to the drama of this unfolding saga.

In a post dated July 29, CoinDCX CEO Sumit Gupta, with the authority of a king, laid the rumors to rest, stating, “Ignore the rumours! CoinDCX is not up for sale.” Two of his loyal knights, the founding partners, swiftly echoed his words, affirming that the kingdom’s focus remains on building a legacy from the heart of India. 🇮🇳

The rumours are false. @CoinDCX is building from India for the world! 🇮🇳

We are also actively hiring across multiple roles!

— Mridul Gupta (@mri_gup) July 29, 2025

The tale began with a whisper from a local Indian media outlet, suggesting that Coinbase, already a stakeholder in CoinDCX and its rival CoinSwitch, was eyeing a grand expansion into the Indian market by acquiring the platform. Coinbase had once ventured into the land of spices and software in 2022 but retreated under the heavy hand of regulatory pressure. However, in March, the exchange secured a Financial Intelligence Unit (FIU) license, rekindling hopes of a triumphant return and fueling the fires of speculation about a potential CoinDCX acquisition.

The whispers grew louder when the report suggested CoinDCX was being valued at under $1 billion, a far cry from its $2.2 billion peak in 2021. This was compounded by a breach on the platform just days before, leading many to speculate that financial distress might force a sale. Yet, CoinDCX, like a phoenix rising from the ashes, has declared its resilience and independence.

Background on the CoinDCX Hack

On July 19, the night was dark and full of terrors, as attackers siphoned off approximately $44 million in various assets from an internal wallet linked to a partner exchange. Despite the storm, CoinDCX reassured its users that customer funds in cold storage remained untouched, and the loss was fully covered by the exchange’s treasury reserves. The stolen assets, however, were spirited away through the shadows of mixing tools like Tornado Cash and cross-chain bridges, making their recovery as elusive as a ghost in the night. 🌑

This breach, another chapter in the tumultuous history of India’s exchange scene, follows the 2024 WaziriX incident, a story of loss and resilience. CoinDCX has since embarked on a quest for redemption, offering a 25% bounty for the return of the stolen funds. Two wallets, holding over 155,000 SOL and 4,400 ETH, remain under watchful eyes, though no success has been reported in reclaiming them.

With the denial now echoing through the halls of the crypto world, it seems that CoinDCX is standing firm, whether out of pride in its valuation or simply because no talks ever truly existed. The future, as always, remains a tapestry yet to be woven. 🖼️

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2025-07-29 14:54