CoinDCX launches $6 million investor protection fund, funded by company profits

Sumit Gupta, co-founder of Indian cryptocurrency exchange CoinDCX, said the company has set up an investor protection fund and said it would be "better for the ecosystem" if other exchanges followed suit. The fund is intended to "compensate users for losses in extremely rare cases, such as security breaches," Gupta said. It will initially hold nearly $6 million, all from "CoinDCX profits." The decision comes after WazirX suffered a $230 million hack last month. (CoinDesk)