CoinDCX Launches Crypto Investor Protection Fund
Protecting Users in the Wake of Security Breaches
CoinDCX, a leading Indian cryptocurrency exchange, has established a crypto investor protection fund (CIPF) to compensate users in the event of a security breach. The fund, worth 6 million, is a response to the recent hack of WazirX, another Indian crypto exchange.
CoinDCX co-founder Sumit Gupta told CoinDesk that the CIPF is a "step towards building trust and confidence in the Indian crypto ecosystem." He added that the fund will provide "peace of mind" to users and help to protect them from financial losses in the event of a security breach.
The CIPF is a significant development for the Indian crypto industry. It represents a commitment by CoinDCX to protect its users and to build trust in the cryptocurrency market.
Comments