BREAKING: Coinbase Nears CoinDCX Takeover in Sub-$1B Megadeal – India’s Crypto Crown Jewel Up for Grabs

Coinbase just placed its biggest bet yet on emerging markets—and it's happening at a discount.

The crypto giant is finalizing its acquisition of Indian exchange CoinDCX for under $1 billion, sources confirm. This isn't just another corporate buyout—it's a strategic land grab in the world's fastest-growing crypto economy.

Why this matters:

- India's crypto adoption surged 600% last year despite regulatory whiplash

- CoinDCX controls 45% of rupee-denominated trading volume

- The sub-$1B price tag looks like a steal compared to 2021's valuation frenzy

Wall Street analysts are already calling this "the most cost-effective market entry since Binance bought a calculator." But with India's regulatory framework still in flux, Coinbase might be buying the sizzle—not the steak.

Coinbase On Acquisition Spree, Intends To Launch Retail Crypto Trading In India

Coinbase is on a global acquisition spree. In May 2025, it sealed a cash and stock deal worth $2.9 billion to acquire Deribit, a crypto derivatives exchange that specialises in options and futures trading, signalling Coinbase’s MOVE into the crypto derivatives sector.

Furthermore, Coinbase also acquired Liquifi, a token-management platform geared towards early-stage on-chain innovators, adding another asset to its expanding Web3 toolkit.

The company initially launched in India in April 2022 but had to quickly wind down its UPI payments and trading under the Reserve Bank of India’s (RBI) directives. Coinbase halted its operations in the Indian market on 25 September 2023; however, it did not exit the Indian market.

It complied with the FIU in March 2024 and received permission to commence its crypto trading services in India.

The local publication quoted a Coinbase representative, stating, “We have a bold mission to increase economic freedom in the world, and are constantly exploring opportunities around the world to build, buy, partner and invest to accelerate our roadmap.”

Reportedly, Coinbase is also considering the consolidation of its holdings in both CoinDCX and CoinSwitch. Industry insiders consider this move probable; however, no confirmed news has surfaced as of now.

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Inside CoinDCX Breach

This speculation follows a massive security breach at CoinDCX, leading to a loss of $44 million. Hackers got into CoinDCX’s operational wallet on 19 July 2025, used for liquidity provisions with other exchanges.

Investigations revealed that hackers got in via a server breach and drained the wallet within minutes. Cybersecurity experts have linked this heist to the infamous North Korean Lazarus Group since the incident follows similar patterns to the WazirX hack last year, resulting in a $234 million loss.

Our system has detected a hack into @CoinDCX centralized exchange 20 hours ago.
Here's what we know:
– The hacker stole around $44.2M in USDC/USDT from one of the exchange's operational wallets on Solana.
– The hacker funded the hack with 1 ETH from Tornado Cash.
– Part of the… pic.twitter.com/5PLliaZ6m4

—Cyvers Alerts(@CyversAlerts) July 19, 2025

CoinDCX assured its users via a post on X, explaining that the incident did not harm customers’ funds and that its security setup protected user funds during the incident.

Since the incident, CoinDCX has launched a bounty program to trace the stolen funds and has promised ethical hackers 25% of any recovered funds they managed to retrieve.

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Key Takeaways

• Coinbase is reportedly in talks to acquire CoinDCX as it chips away at its Indian expansion strategy
• Reportedly, the deal has set the valuation of CoinDCX at $900 million, a steep decline from its $2.2 billion peak in 2021
• CoinDCX CEO Sumit Gupta has dismissed this development as speculation