Coinbase is reportedly eyeing a billion-dollar acquisition of India’s CoinDCX, timing that screams opportunistic given the exchange’s recent $44 million hack. CoinDCX’s valuation cratered 54.5% after the July security breach, dropping from $2.2 billion to under $1 billion. CEO Sumit Gupta denies the company is for sale, but corporate vultures rarely ask permission. India’s 93 million crypto users make it prime real estate for Coinbase’s Asian expansion dreams. The unfolding drama reveals just how ruthless crypto’s biggest players can be.
While Coinbase reportedly eyes a potential billion-dollar acquisition of Indian crypto exchange CoinDCX, the target company’s CEO is having none of it.
Multiple sources claim Coinbase is in advanced talks to snap up CoinDCX at a valuation under $1 billion. That’s a far cry from the $2.2 billion the Indian exchange commanded back in 2022 after its Series D funding round.
What changed? A messy $44 million hack in July 2025 that apparently knocked 54.5% off CoinDCX’s worth.
CoinDCX CEO Sumit Gupta isn’t buying into the rumors. “CoinDCX is not up for sale!” he declared publicly, probably hoping to shut down the speculation once and for all.
CoinDCX CEO Sumit Gupta firmly dismissed acquisition rumors, insisting his exchange isn’t for sale despite mounting speculation.
Neither Coinbase nor CoinDCX has officially confirmed any deal talks, leaving everyone guessing.
The hack hit CoinDCX’s hot wallet hard, causing unauthorized access and notable asset loss. Security breaches in crypto? Shocking, right? But this one reportedly tanked the company’s reputation and spooked investors enough to crater its valuation from $2.2 billion to under $1 billion.
For Coinbase, the timing couldn’t be more interesting. India represents the world’s largest crypto-owning market with over 93 million users. Coinbase recently secured FIU registration, demonstrating its commitment to rebuilding its presence in the Indian market after facing regulatory challenges in 2022. The acquisition is viewed as a long-term strategic bet that could position Coinbase favorably in the rapidly expanding Asian cryptocurrency market. The growing institutional adoption of Bitcoin and its emergence as economic hedge makes the Indian market particularly attractive.
That’s a massive opportunity sitting right there, especially if you can buy your way in at a discount. Acquiring CoinDCX would give Coinbase instant access to dominant market share and established infrastructure in Asia’s key growth region.
The whole situation reeks of opportunistic timing. Coinbase allegedly swoops in right after a major security incident when CoinDCX is presumably at its weakest.
Classic corporate vulture behavior, some might say.
Market analysts are having a field day speculating about the deal. Will it happen? Won’t it? The crypto space loves its drama, and this story has all the ingredients: hacks, denials, billion-dollar valuations, and strategic corporate maneuvering.
CoinDCX’s leadership continues pushing the narrative that they’re stable and independent.
Meanwhile, market watchers remain skeptical, waiting for official disclosures while staying cautious about unconfirmed rumors.
The situation perfectly captures how quickly things can shift in crypto, where security incidents can instantly reshape company valuations and trigger acquisition interest.
