CoinDCX Launches Crypto Investor Protection Fund (CIPF) in India 🇮🇳
- Objective: Enhance security for the Indian crypto market.
- CIPF will compensate users in rare cases such as security breaches.
- Initial fund: 50 crore rupees (~$595,800).
- CoinDCX contributes 2% of its annual brokerage income to CIPF.
Sumit Gupta, co-founder of CoinDCX, shared: "We apply top-notch security measures such as MPC, 2FA, and advanced encryption."
CoinDCX Acquires BitOasis
- July 3: CoinDCX Acquires BitOasis, a virtual asset trading platform in the MENA region.
- Expanding the market and improving user experience.
WazirX Hack Aftermath
- July 18: WazirX hacked for $235 million, sparking crypto security concerns in India.
- Utkarsh Tiwari, CSO of KoinBX, predicts exchanges will invest heavily in security infrastructure.
What do you think about these safeguards? Comment now! 💬