Sumit Gupta
@smtgpt • 153,615 subscribers
Builder at heart! Co-Founder @CoinDCX
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Hi everyone, At CoinDCX : India Ka Crypto Coach, we have always believed in being transparent with our community, hence I am sharing this with you directly. Today, one of our internal operational accounts - used only for liquidity provisioning on a partner exchange - was compromised due to a sophisticated server breach. I confirm that the CoinDCX wallets used to store customer assets are not impacted and are completely safe. Before I share further details on this, I would like to highlight that: -No customer funds have been impacted -Your assets remain completely safe and protected in our secure cold wallet infrastructure -All trading activity and INR withdrawals are fully operational The incident was quickly contained by isolating the affected operational account. Since our operational accounts are segregated from customer wallets, the exposure is only limited to this specific account and is being fully absorbed by us - from our own treasury reserves. Our internal security and operations teams have been working through the day along with leading cybersecurity partners to investigate the matter, patch any vulnerabilities and trace the movement of funds. We are collaborating with the exchange partner to block and recover assets, including coming out with a bug bounty program soon. Every security incident is a learning and we will learn from this and further strengthen our platform, more importantly this is our time to win this war against cyberthreats in the industry and we commit to work together with experts to secure our industry. I understand incidents like this can be unsettling - even when customer assets are unaffected. That's why I am sharing this incident with you with full transparency. Thank you for your continued trust. I will keep you informed on a real time basis as we learn more. 🙏
Sumit Gupta718,788 Aufrufe • vor 1 Jahr
.Elon Musk’s advise for Indians who want to build: >Expect to work really hard & still know there is meaningful chance of failure! >Be a net contributor to society: Output > Input >"Anyone who aims to make more than they take has my respect." Such a simple but powerful answer: Nice podcast, Nikhil Kamath! Thank you for asking this question on behalf of the Indian startup community. 🙏
Sumit Gupta (CoinDCX)115,095 Aufrufe • vor 9 Monaten
There have been many questions today about the recent #WazirX news. Sharing this short video to clarify how your funds are safe on CoinDCX : India Ka Crypto Coach: 🔒100% customer funds in cold wallets 🛡️ ISO 27001 certified security 🔐 MPC, 2FA, and advanced encryption 📜 Regular security and compliance audits 🔍 Real-Time proof of reserves (Link in the comments below)
Sumit Gupta (CoinDCX)218,096 Aufrufe • vor 2 Jahren
Whenever life has given me an opportunity to learn, I have grabbed it with both hands. 1⃣Back in my IIT Bombay days, I made it a point to learn from my peers- whether it was their problem solving skills or their practical experiences. These learning experiences instilled immense confidence in me. 2⃣Later, when I moved to Japan for my first job as a software engineer, not only did I learn and adapt to the Japanese working culture but I learnt to speak the language as well. This made me confident that I can learn and grow in any environment! 3⃣Having then moved to India, I spent a lot of time researching and learning about crypto which made me realize the potential it holds. It was this learning that gave me the confidence to co-found CoinDCX : India Ka Crypto Coach The journey to learn continues everyday! Learning is accelerated when you have a coach to guide you as well. Here’s a short ad we’ve made with Gautam Gambhir to help everyone learn and build confidence in their own journeys! 💪 Do watch and share your feedback! #IndiaKaCryptoCoach #ConfidentCryptoStart
Sumit Gupta84,270 Aufrufe • vor 1 Jahr
100% agree, Raghav Chadha. Major economies have expressed intent to make their countries the crypto capital of the world and the leader in digital assets. Hence, there is a big need for India to regulate virtual digital assets and bring in friendlier policies that encourage innovation and bring investors & founders back to India!
Sumit Gupta (CoinDCX)32,735 Aufrufe • vor 7 Monaten
Glad to see our Hon'ble Finance Minister, Smt. Nirmala Sitharaman ji refer to stablecoins and how countries around the world have just two options: to either explore it or risk exclusion. I personally believe that India should embrace stablecoins! India receives over $125B in remittances annually, and stablecoins can reduce costs from 6-7% to just 1-3% saving us billions in fees. India already has one of the world's best fintech ecosystems and we have a great opportunity to embrace virtual digital assets and further leapfrog in the digital revolution. 🇮🇳💪
Sumit Gupta (CoinDCX)35,813 Aufrufe • vor 11 Monaten
I am grateful to the Chairman, Shri Bhartruhari Mahtab, and the esteemed Members of the Standing Committee on Finance for inviting Neeraj Khandelwal, me, along with the Bharat Web3 Association and colleagues from across the industry, to participate in discussions on the subject ‘A Study on Virtual Digital Assets (VDAs) and Way Forward’ at the old Parliament House at New Delhi. It was a privilege to contribute to such an important topic. I look forward to engaging further and supporting the Committee’s efforts with thoughtful, evidence-based inputs as this study progresses. We remain committed to working collaboratively with policymakers and industry peers to help shape a safe, transparent, and forward-looking digital asset ecosystem for India. 🇮🇳🙏
Sumit Gupta25,264 Aufrufe • vor 9 Monaten
Every Diwali, my family and I take part in #MuhuratTrading, a small yet special tradition that has been part of Indian life for decades. In recent years, we’ve started adding crypto to it. Small token buys and trades in bitcoin, more as a family ritual and an offering to Goddess Lakshmi than as an investment. It’s our way of keeping the tradition alive while also embracing the future! 🙏✨
Sumit Gupta27,874 Aufrufe • vor 10 Monaten
Bitcoin has crossed $100K! 🚀 "Bitcoin has no value." "Bitcoin is a fad." "Bitcoin will go back to zero." These were some of the statements the CoinDCX : India Ka Crypto Coach team frequently heard when we started out in 2018. Even our own friends and family echoed some of these doubts! But having done our research into the core technology, blockchain, and having experienced its potential firsthand, we at CoinDCX remained confident that Bitcoin would revolutionize the world. We took it as a challenge upon ourselves to be India’s crypto coach—educating, empowering, and guiding millions of Indians to #LearnKaroCryptoKaro. A big thank you to all our partners ,community , believers, customers and everyone who took this journey with us! And yes, Bitcoin has faced its share of ups and downs—and it will likely experience some future fluctuations too. But this $100K milestone is a powerful validation of Bitcoin's long-term potential. 🚀 #100KNotOut #Bitcoin
Sumit Gupta44,376 Aufrufe • vor 1 Jahr
A very interesting perspective from Vlad Tenev, Co-founder of Robinhood, on why he believes traditional equities will move onto blockchain rails given the efficiency gains. In my humble opinion, by 2030, that is in just 5 years, equities across the world are going to be tokenized and traded on chain. Our demat shares will be linked to blockchain wallets. Why? -> Instant trustless settlement, no T+1, T+2 -> 24x7 running efficient markets -> Much more cost effective, billions of dollars saved -> Above all, fully transparent and inclusive But this is just the beginning of the tokenization revolution. A wide range of asset classes - from real estate and bonds to fine art and luxury collectibles, even digital identities - will be tokenised for the benefits and transparency it brings. I am working on a deeper-dive on this topic. Will share it soon!
Sumit Gupta (CoinDCX)42,437 Aufrufe • vor 1 Jahr
My crypto story: > I first heard about bitcoin when I was working at Sony in Japan. Read about it but didn’t act. > Came back to India and started working on my 1st startup. Saw friends in Mumbai talk about bitcoin, blockchain and crypto and how it was the future. > Spent time reading about it, talking to friends, and actually investing and trading. > Saw the true power of crypto then and how it was an asset class with a lot of potential. > That led me to start CoinDCX. And like they say the rest is history. > I still continue to HODL bitcoin too! I know every person has their own crypto story and through #TalesofCrypto we are highlighting unreal journeys of real traders that inspire us all! Do watch!
Sumit Gupta (CoinDCX)18,120 Aufrufe • vor 8 Monaten
Grateful to Rajya Sabha MP Dr K Laxman for raising a critical issue in parliament today: the innovation drain in India's Web3 startup ecosystem. >India has over 1,000 Web3 startups with the potential to contribute over $1.1 trillion to our economy by 2032 (per nasscom report). >Yet regulatory uncertainty is pushing founders and companies abroad. >We urgently need regulatory clarity and clear policy frameworks to empower Indian entrepreneurs to build in India for the world and help realize the Viksit Bharat vision! 🇮🇳🫡
Sumit Gupta (CoinDCX)12,887 Aufrufe • vor 9 Monaten
Our CoinDCX : India Ka Crypto Coach team recently ran a fun experiment where we set up Bitcoin Chai Cafes in 100+ parts of Mumbai! The result: More than 1.5 lakh cups of chai were consumed and countless conversations were had. Our goal was to spread more awareness about crypto and make it a part of everyday conversations. When something becomes a part of dinner table or chai break conversations with family and friends, that is when it goes mainstream! Which city do you want to see Bitcoin Chai Cafe coming up in next? Share in the comments! We will try to make it happen.
Sumit Gupta (CoinDCX)18,586 Aufrufe • vor 1 Jahr
A question I often get is, "Can CoinDCX survive when global exchanges enter or re-enter India?" I recently answered this at Moneycontrol's #GlobalWealthSummit: CoinDCX : India Ka Crypto Coach has not only survived but thrived for over 7 years in India, even as multiple global exchanges have entered, exited, and re-entered the market. We understand India better than any global player, think long-term, and prioritize India as our most important market—not just another country to check off a list. We won’t just survive; we will win the market!🫡 w/ Neeraj Khandelwal, Mridul Gupta
Sumit Gupta (CoinDCX)11,536 Aufrufe • vor 1 Jahr
In the current bull run, we’re seeing a new wave of investors entering the crypto market—apart from youngsters even senior citizens are showing interest! My long-term goal is to make #crypto and #Web3 mainstream in India- where it is a key part of breakfast and dinner table conversations and also a key topic during chai-sutta/biscuit breaks in office. To do my part, I met Ranveer Allahbadia, and we recorded a podcast where I provided a 360-degree overview of crypto from my experience and learnings from 6+ years. For nearly two hours, Ranveer asked me a wide range of questions, and I did my best to explain everything in simple Hinglish, without using any complex terms. Please watch the podcast and share your feedback. If you find it helpful, share it with someone in your circle who might have misconceptions about crypto! PS: Link to the full podcast in the first comment. This was recorded before the US election results and before #bitcoin hit $100K.
Sumit Gupta (CoinDCX)12,473 Aufrufe • vor 1 Jahr
With CoinDCX : India Ka Crypto Coach's VIP program, we offer exclusive benefits, personalized experiences, and top-notch priority support, all tailored just for you. And you get all these benefits for ZERO fees! 🙌 Get ready for a VIP treatment like no other 👑
Sumit Gupta (CoinDCX)11,887 Aufrufe • vor 3 Jahren
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