CoinDCX, one of India’s largest crypto exchanges, suffered a $44 million hack targeting its internal liquidity wallet. No customer funds were affected, as user assets remain secured in cold wallets. Amid the fallout, rumors circulated that Coinbase was planning to acquire CoinDCX at a discounted valuation. CoinDCX CEO Sumit Gupta publicly denied the claims, asserting the company is not for sale and remains focused on India’s crypto growth. The breach, traced to compromised backend infrastructure, adds to rising global crypto thefts in 2025, surpassing $2.17 billion. CoinDCX launched an $11 million bounty to recover funds and bolster platform security.