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 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.

Growing a Business

'Boring' Businesses Are Making Millionaires — and You Can Borrow Their Strategies For Success

The silent growth strategy reveals how understated, steady businesses are quietly creating wealth for entrepreneurs in 2025. By focusing on long-term consistency and incremental progress, these "boring" industries are proving to be gold mines for those willing to embrace stability over hype.

Diversity

5 Ways You Can Create a More Inclusive Workplace Immediately -- and Why You Should

The more diversity you bring to your team, the greater your chances of finding groundbreaking insights and solutions.

News and Trends

How AI is Reshaping Work While Reinforcing the Need for Leadership, Empathy, and Creativity

The adoption of AI is not just a technological shift, it requires a cultural transformation—many organisations struggle with how to integrate AI tools while preserving human skills and creativity

News and Trends

goSTOPS Raises INR 35 Cr in Series A to Expand Youth Travel Hostel Network

goSTOPS will use the fresh funding to expand to 10,000 beds across 100 locations, enhance operations, upgrade technology, and improve social experiences, solidifying its position as a leading youth travel brand.

Business News

80% of Banks Admitted They Can't Keep Up With AI Scams Aimed at Draining Personal Accounts

A survey of global banks reveals that tech security professionals are deeply concerned about the rate at which AI is helping hackers carry out cyberattacks.