Coinbase in talks to acquire CoinDCX for under $1B as India exchange's value plummets post-hack

Coinbase is reportedly in advanced discussions to acquire CoinDCX, one of India’s largest cryptocurrency exchanges, in a deal valued under $1 billion, according to multiple reports citing unnamed sources [1][2][3]. This potential acquisition would mark a strategic expansion for Coinbase in the Indian market, where it already holds a stake in CoinDCX. The proposed transaction, however, reflects a sharp decline from CoinDCX’s $2.2 billion valuation in April 2022, a shift attributed to the exchange’s recent $44.2 million hack in July and broader market volatility [1][4]. A source quoted in the reports described the deal as a “long-term strategic bet,” noting that acquiring CoinDCX at a discounted valuation positions Coinbase for potential gains if India’s crypto market matures [2].

The timing of the acquisition talks is notable. CoinDCX suffered a security breach on July 18, when attackers drained an operational wallet within minutes. While customer funds remained secure due to the exchange’s security protocols, the incident likely contributed to the valuation drop and regulatory scrutiny. Coinbase’s interest in the exchange aligns with its broader strategy to expand in high-growth markets, particularly in Asia, where crypto adoption is accelerating despite regulatory uncertainties [1][3][5]. The company has also been active in the acquisition space, having recently purchased Deribit—a derivatives platform—for $2.9 billion and Liquifi, a token-management firm, earlier this month [4].

Industry analysts suggest that the deal underscores a trend of consolidation in the crypto sector, where major players seek to acquire regional exchanges to bolster infrastructure and user bases. For CoinDCX, the acquisition could provide a financial and operational lifeline following the hack, which reportedly eroded user trust. Coinbase’s involvement may also pressure Indian regulators to clarify licensing frameworks and address concerns around data localization and anti-money laundering protocols, given the country’s evolving stance on digital assets [3][6].

However, the transaction faces challenges. Integrating CoinDCX into Coinbase’s ecosystem will require navigating technical, cultural, and compliance hurdles. The hack’s aftermath could necessitate significant investments in cybersecurity upgrades and legal settlements, potentially affecting the deal’s profitability. Despite these risks, Coinbase’s entry into India’s crypto market—where over 100 million users are estimated to hold digital assets—positions the acquisition as a calculated long-term play [1][5].

The news has already stirred investor speculation, with Coinbase’s stock experiencing moderate volatility in response to the rumors. While no formal announcement has been made, the ongoing discussions signal a pivotal moment for both firms. For CoinDCX, the acquisition could stabilize operations and enhance technological capabilities. For Coinbase, it represents an opportunity to solidify its market presence in a competitive landscape while mitigating reputational damage from the hack [1][3].

Sources:

[1] [Coinbase in talks to acquire India's CoinDCX for under $1B](https://crypto.news/coinbase-acquire-coindcx-exchange-after-44m-hack-2025/)

[2] [Coinbase reportedly in advanced talks to buy ...](https://x.com/Crypto_Briefing/status/1949996858186879349)

[3] [Coinbase circles CoinDCX after $44 mn crypto heist](https://medial.app/news/coinbase-circles-coindcx-after-dollar44-mn-crypto-heist-94be80b345fe9)

[4] [BTCUSD - Coinbase reportedly in advanced talks to buy ...](https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96510391/coinbase-reportedly-in-advanced-talks-to-buy-coind)

[5] [Pankaj Mishra / Livemint: Sources: Coinbase is in advanced talks ...](https://www.techmeme.com/)

[6] [TipRanks - X](https://x.com/tipranks?lang=en)