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! 💬