Indian cryptocurrency exchange CoinDCX has announced an investor protection fund to compensate users in the event of a security breach.

- The fund will start with Rs 50 crore (around $6 million) allocated from the company's profits.

- The decision comes after the recent $230 million hack of WazirX.

- CoinDCX co-founder Sumit Gupta stressed the importance of such measures for the ecosystem.

The fund will be increased by 2% of the company's monthly revenue.