Crypto unicorn CoinDCX has posted a net profit of INR 1.7 Cr in the fiscal year 2024-25 (FY25), rising about 15% from about INR 1.5 Cr PAT reported in FY24. The startup's profits for the fiscal grew on the back of a significant uptick in its top line and an improvement in its margins.
In FY25, the startup's operating revenue rose 43% to INR 559.6 Cr from INR 391.8 Cr in FY24. CoinDCX registers its operating revenue from the transaction (trading) fees it charges users for facilitating cryptocurrency purchases and sales on its platform.
Including an other income of INR 12.3 Cr, total revenue reached INR 571.9 Cr, an increase of nearly 45% compared to INR 394.2 Cr in the previous fiscal. Meanwhile, total expenses also saw a sharp rise, climbing 48% to INR 550.2 Cr from INR 370.9 Cr spent in FY24.
Founded in 2018 by Sumit Gupta and Neeraj Khandelwal, CoinDCX allows users to trade in cryptocurrencies and other digital assets. The platform claims to have a user base of over 2 Cr and more than 500 registered crypto assets with quarterly trading volumes surging past INR 2.4 Lakh Cr.
The company has raised a total of over $244 Mn from investors like Pantera Capital, B Capital Ventures, Bain Capital, among others. In 2021, the startup raised $90 M in its Series C funding round at a valuation of $1.1 Bn, making it India’s first crypto currency unicorn. Its valuation crossed $2 Bn in its $135 Mn Series D round in the subsequent year.
Despite the improvement in financial health in FY25, the crypto exchange has faced several major issues in 2025, ranging from a significant security breach to ongoing business and regulatory challenges.
Earlier in July, CoinDCX suffered a high-profile $44 Mn (around INR 378 Cr) heist, one of the largest crypto thefts in India since the $234 Mn WazirX hack.
The attackers targeted the exchange's hot wallet used for internal liquidity, draining the funds via rapid blockchain transfers and laundering routes like Tornado Cash and bridges between Solana and Ethereum.
Following this, CoinDCX launched a bug bounty program and invited ethical hackers to aid in asset recovery and strengthening platform security.The startup is said to have absorbed the impact from its internal treasury, the effect of which might be seen in CoinDCX's FY26 statements.
The breach also had implications for the company's leadership. Three months after the attack. CTO Vivek Gupta resigned, CHRO Mudita Chauhan and CISO Sridhar G stepped down to find new opportunities.
Breaking Down The Expenses
Employee Benefit Expenses: The employee benefit expenses declined 14% to INR 161.4 Cr from INR 188 Cr in the previous fiscal.
Advertising Expenses: The expenses under this head increased 8X to INR 51 Cr, from INR 6.3 Cr in the previous fiscal year.
IT Expenses: CoinDCX's IT expenses increased to INR 101.1 Cr, up 41% from INR 71.7 Cr in FY24.