The fund has an initial allocation of INR 50 crore (approximately $6 million) to compensate users for losses in rare scenarios like security breaches.CoinDCX emphasizes robust security measures, including multi-party computation (MPC) and two-factor authentication (2FA), to protect users' assets.CoinDCX will contribute 2% of its monthly brokerage income to the fund, with plans to increase the fund size over time.The fund's creation follows a significant hack on another Indian crypto exchange, WazirX, highlighting the need for enhanced security measures.The CIPF aims to build long-term trust within the Indian crypto ecosystem by providing an additional layer of protection for investors .Read More Stories
The fund has an initial allocation of INR 50 crore (approximately $6 million) to compensate users for losses in rare scenarios like security breaches.CoinDCX emphasizes robust security measures, including multi-party computation (MPC) and two-factor authentication (2FA), to protect users' assets.CoinDCX will contribute 2% of its monthly brokerage income to the fund, with plans to increase the fund size over time.The fund's creation follows a significant hack on another Indian crypto exchange, WazirX, highlighting the need for enhanced security measures.The CIPF aims to build long-term trust within the Indian crypto ecosystem by providing an additional layer of protection for investors .Read More Stories