The co -founder of CoindCX Sumit Gupta said that the exchange has formed a special team for this, which will use advanced security protocols to control confiscated assets. Wallets with multilateral calculations will also be used.
CoindCX began cooperation with the Indian authorities, when I created an investors protection fund after hacking the Wazir crypt exchange exchange, which has lost assets in the amount of $ 230 million. The investor protection fund is intended to compensate users who have suffered losses due to safety violations. Initially, the fund stored about $ 6 million received from the profit of the exchange.
In the fourth quarter of 2024, the volume of cryptocurrency trading in India increased to $ 1.9 billion – this is twice as much as in the previous quarter. This is due to the fact that investors from small cities are looking for new sources of income due to the weak growth of jobs and wages. The main volume of activity falls on retail traders.
Small cities of Jaipur, Lakhnau and Puna became leaders in cryptocurrency trading in 2024. The partner of the consulting company Grant Thornton Bharat Kush Vadhwa predicts that despite the high taxes on cryptotransa and uncertainty in the regulation of the industry, by 2035 the cryptocurrency market in India will exceed $ 15 billion.
Last year, the India police warned of dozens of fake websites and mobile applications that are masked under the CoindCX crypto-based. One of the local users has already lost about $ 16,800 on fraud.
Source: Bits
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