CoinDCX CEO Denies Coinbase $900M Buyout Amid Security Breach Speculation

Indian crypto exchange CoinDCX CEO Sumit Gupta has denied reports of a potential $900 million acquisition by U.S.-based trading platform Coinbase. The denial came amid speculation that the recent $44 million security breach had made the Indian platform vulnerable to takeover attempts [1]. Gupta, using his verified X account, stated that CoinDCX remains focused on India’s crypto market and is “not for sale” [3]. The platform’s leadership has emphasized its commitment to local growth and stability, aiming to restore confidence among stakeholders following the security incident [9].

Coinbase has not publicly commented on the acquisition rumors, adhering to its policy of not discussing speculative market activities [5]. The firm previously stated in an official communication that it “continuously explores opportunities to build, buy, partner, and invest,” but offered no further details [5]. Analysts suggest the proposed $900 million valuation would represent a significant decline from CoinDCX’s 2022 peak valuation of $2.2 billion, potentially reflecting broader market corrections or the fallout from the recent breach [6]. However, neither company has released financial data confirming the platform’s current standing [8].

The denial appears to be a strategic move to stabilize the firm amid heightened scrutiny and user uncertainty [10]. The acquisition rumors had already sparked discussions within the crypto community about potential shifts in market dynamics and regulatory oversight [11]. While no immediate impacts on trading volumes or liquidity were observed, the episode highlights the vulnerability of regional exchanges to global market pressures and cybersecurity threats [13].

The situation also underscores the ongoing interest from major players in consolidating their positions in emerging markets like India [11]. Despite the uncertainty, both CoinDCX and Coinbase continue to operate within the country without altering their core operations or regulatory registrations [5]. Future developments will likely depend on how the market reacts to the continued speculation and whether any formal acquisition discussions emerge in the coming months [14].

Source: [1] CCN.com (https://www.ccn.com/news/crypto/indian-crypto-exchange-coindcx-quashes-coinbase-buyout-buzz-amid-44m-hack-fallout/)

[3] CryptoPotato (https://cryptopotato.com/)

[5] CoinRank (https://cryptorank.io/news/feed/4aa96-coindcx-ceo-denies-rumors-of-post-hack-sale-to-coinbase)

[6] AInvest (https://www.ainvest.com/news/coindcx-ceo-denies-post-hack-sale-rumors-coinbase-44m-breach-2507/)

[10] nequi.org (https://nequi.org/)

[11] XT.com (https://www.xt.com/en/blog/community-news/2025-07-29T20:29:40.000Z)