COINDCX CEO Counter Hack’s Fear of $44.2 million reveals annual revenue of $136 million

In a detailed statement on X, CoindCX CEO Sumit Gupta explained how the exchange remains economically strong despite recent major security breaches.

Gupta shared internal data on annual revenue (~$115.8 billion) with DCX Group (Okto Web3, a Web3 wallet developed by India CoindCX, UAE and Bahrain Bitoasis, and CoindCX) of 1,179 Cr (~$136 million), and annual revenue (~$15.8 billion) of 13.7 Lakh Cr (~$15.8 billion) of annual revenue (~$15.8 billion billion).

The group is backed by big hitters like Bain Capital, Polycaine, Jump Capital and Pantera, and has raised 2,144 CR ($248 million) in funding.

Gupta also mentioned and thanked 19 million customers and finished posting as follows: “Coindcx stays here, guides, and grows!”

The CEO’s statement follows the recent $442 million hack

The CEO’s statement came after CoindCX suffered a security breach a few days ago. The internal operational accounts used for liquidity provisioning were hacked for around $44.2 million, but fortunately, customer funds and wallets were not affected.

CoindCX’s Treasury has covered full losses and it was reported that normal transactions and INR withdrawals will continue without interruption.

A reward of up to $11 million was provided for recovery of stolen cryptocurrency, and partnerships were established with CERT-IN and international forensics experts to track the fund.

This is India’s second largest exchange hack after a $234 million breach of Wazirx. Generally, Cryptographic theft on H1 2025 exceeded $2.17 billion worldwide.

India’s growing crypto adoption

CoindCX reaches around 20 million people, attracting fast growth for both individual and institutional investors. India’s crypto regulations are not yet completely clear, but the country is seeing more crypto-related activities with big global names like Coinbase.

Some estimates show that the Indian cryptocurrency market has seen a significant increase in revenue this year to $9.7 billion. In addition, the number of cryptocurrency users in India is on the rise, with the expected number of up to 133.5 million users by 2026.

Also, CoindCX is leading compliance, but crypto withdrawal restrictions remain a controversial topic, especially with continued P2P delays and transaction taxes in India (there are reports that users are unable to withdraw coins).