CoinDCX Denies Coinbase Sale Rumors Amid Major Hack
Date: 2025-07-30 Author: Gabriel Deangelo Categories: BUSINESS
The head of the Indian cryptocurrency exchange CoinDCX, Sumit Gupta, has denied rumors that the company might be sold to the American platform Coinbase. Earlier, the Indian publication Mint, citing anonymous sources, reported that the parties were discussing a deal worth about $1 billion.
In response to the publication, Gupta made a statement on his X page, noting that CoinDCX remains fully focused on expanding its presence in the Indian market and does not plan any sales. He urged not to believe false information and emphasized that the company's goal is to support the growth of the crypto industry in the country.
It should be noted that just a few days before these rumors appeared, CoinDCX faced a serious cyberattack. On July 18, attackers gained access to the exchange's operational wallet by hacking one of its servers and withdrew funds in the amount of $44.2 million. According to the team, one of the internal accounts used to provide liquidity on an external platform was affected.
Despite active discussion in the media, Coinbase declined to comment on these rumors directly. A company representative told Cointelegraph that they do not discuss "speculation and unconfirmed reports." However, the company added that they are open to new opportunities as part of their mission to increase economic freedom around the world, including potential deals, partnerships, and investments.
It is also worth noting that in March, Coinbase officially registered with the Financial Intelligence Unit of India. This move indicates that the company is serious about gaining a foothold in the Indian market. Coinbase has been expanding its presence in recent months: in May, it completed the acquisition of Deribit, one of the largest crypto derivatives exchanges, for $2.9 billion, and recently acquired Liquifi, a platform that helps blockchain developers manage tokens.
Against this background, rumors about the purchase of CoinDCX might seem plausible, but the official position of the Indian exchange says otherwise. CoinDCX continues to operate independently and is not considering any sale transactions.
