Post WazirX Hack, India’s CoinDCX Starts Investor Protection Fund With $6M

Indian
crypto
exchange
CoinDCX’s
co-founder
Sumit
Gupta
has
told
CoinDesk
that
his
company
has
established
an
investor
protection
fund,
saying
that
if
other
exchanges
did
this
too
“it
would
be
better
for
the
ecosystem.”

The
investor
protection
fund
is
designed
to
“compensate
users
for
losses
incurred
in
extremely
rare
scenarios
such
as
security
breaches”
and
at
the
start
it
will
hold
nearly
$6
million
(INR
50
crore),
which
comes
solely
from
“our
profits,”
Gupta
said.