CoinDCX Launches Crypto Investors Protection Fund The decision to create the fund comes after fellow competitor WazirX lost USD 230M amid a cyberattack. The move solidifies CoinDCX's commitment to the ecosystem and its users

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

jcomp via Freepik

Indian cryptocurrency exchange CoinDCX announced the launch of its Crypto Investors Protection Fund (CIPF) worth INR 50 crore. The fund is created to compensate users for losses incurred in extremely rare scenarios like security breaches or other adverse events.

"In an extremely rare event of a security breach or an adverse event, this dedicated fund will provide an additional layer of protection, ensuring that our customers' assets remain secure and intact. We commit to adding 2% of brokerage income to the corpus and increasing the pool size over time. We will continue to monitor the fund's size, maintaining the balance at a level adequate to safeguard our users' assets. The CIPF will be one of its kind and a significant step towards building long-term trust in the Indian crypto ecosystem," said Sumit Gupta, Co-Founder, CoinDCX.

The decision to create the fund comes after fellow competitor WazirX lost USD 230M amid a cyberattack. The move solidifies CoinDCX's commitment to the ecosystem and its users.

An FIU registered Exchange and ISO 27001:2022 certified, CoinDCX has over 1.5 crore users in the country alone. Recently, it also announced expansion into international markets with the acquisition of BitOasis in MENA region.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Growing a Business

How Meta Generated $32 Billion in Ad Revenue Last Quarter — and How You Can Create Million-Dollar Weekends Using the Same Strategies

Meta's staggering $32 billion quarterly ad revenue isn't just about size; it's about strategy, systems and execution as well.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

NeoSapien Secures INR 80 Lakhs on Shark Tank India 4 for AI Wearable

Founded in 2024 by Dhananjay Yadav and Aryan Yadav, NeoSapien aims to integrate AI into daily life through its wearable technology

Business Culture

Why Are Remote Work Trends So Different in the US and UK?

While the USA and the UK share similarities, they have markedly different remote work cultures. This is particularly interesting for a US-based founder with UK-based employees. I wanted to explore these differences further so we can understand how remote work policies can be tailored to enhance productivity and employee satisfaction in both countries.