‘Ignore the Rumors’ Says CoinDCX CEO on $900 Million Coinbase Acquisition Plan
The post ‘Ignore the Rumors’ Says CoinDCX CEO on $900 Million Coinbase Acquisition Plan appeared on BitcoinEthereumNews.com. CoinDCX CEO Sumit Gupta denies rumors of a potential $900 million Coinbase acquisition plan. Two weeks ago, the Indian crypto exchange suffered a $44 million crypto hack. Insider reports earlier today suggested that American giant Coinbase is bidding to acquire the platform at 60% discount from $2.2 billion valuation three years ago. However, Gupta has denied the rumors, stating that they remain focused on building India’s crypto growth story. CoinDCX Denies Claims of Coinbase Acquisition Following the rumors of $900 million potential acquisition by Coinbase, CoinDCX CEO Sumit Gupta denied any such development in the latest clarification. In his latest message on the X platform, Gupta wrote that the company is not up for sale. Indian crypto exchange CoinDCX suffered a $44 million theft two weeks ago in a sophisticated server attack. Sumit Gupta asked the crypto community to ‘Ignore the rumors’, while noting that he will share more details regarding it very soon. Gupta wrote: “Ignore the rumours! CoinDCX is “super focused” on building for India’s crypto story and not up for sale! Heads down and super focused on Building. That’s what matters and takes us closer to our mission for India to be a global web3 superpower”. Overcoming the Crypto Hack After suffering $44 million crypto theft on July 19, the CoinDCX management has initiated swift action, while trying to make sure that deposits and withdrawals are active for users. In his assurance message to users soon after the hack, Sumit Gupta wrote: “CoinDCC emains financially strong, fully operational, and firmly committed to building for the long term. For us, it’s business as usual”. This was yet another theft incident for an Indian crypto exchange after the massive $240 WazirX crypto hack last year in mid-2024. With the Indian crypto landscape evolving, security breach incidents are also on the…
The post ‘Ignore the Rumors’ Says CoinDCX CEO on $900 Million Coinbase Acquisition Plan appeared on BitcoinEthereumNews.com.
CoinDCX CEO Sumit Gupta denies rumors of a potential $900 million Coinbase acquisition plan. Two weeks ago, the Indian crypto exchange suffered a $44 million crypto hack. Insider reports earlier today suggested that American giant Coinbase is bidding to acquire the platform at 60% discount from $2.2 billion valuation three years ago. However, Gupta has denied the rumors, stating that they remain focused on building India’s crypto growth story. CoinDCX Denies Claims of Coinbase Acquisition Following the rumors of $900 million potential acquisition by Coinbase, CoinDCX CEO Sumit Gupta denied any such development in the latest clarification. In his latest message on the X platform, Gupta wrote that the company is not up for sale. Indian crypto exchange CoinDCX suffered a $44 million theft two weeks ago in a sophisticated server attack. Sumit Gupta asked the crypto community to ‘Ignore the rumors’, while noting that he will share more details regarding it very soon. Gupta wrote: “Ignore the rumours! CoinDCX is “super focused” on building for India’s crypto story and not up for sale! Heads down and super focused on Building. That’s what matters and takes us closer to our mission for India to be a global web3 superpower”. Overcoming the Crypto Hack After suffering $44 million crypto theft on July 19, the CoinDCX management has initiated swift action, while trying to make sure that deposits and withdrawals are active for users. In his assurance message to users soon after the hack, Sumit Gupta wrote: “CoinDCC emains financially strong, fully operational, and firmly committed to building for the long term. For us, it’s business as usual”. This was yet another theft incident for an Indian crypto exchange after the massive $240 WazirX crypto hack last year in mid-2024. With the Indian crypto landscape evolving, security breach incidents are also on the…
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