A security breach was recently reported at WazirX. This news might be alarming to all CoinSwitch users and crypto traders across India.<\/p>\n\n\n\n
We want to assure all our users that your funds and crypto holdings on the CoinSwitch platform are safe and secure. <\/p>\n\n\n\n
At CoinSwitch, we proactively prioritize security. We have implemented multiple safety measures and security protocols to safeguard users and their cryptos, understanding that security is of the utmost importance. <\/p>\n\n\n\n
From user-specific PIN and 2FA (Two-Factor Authentication) to control access to the app, to SSL (Secure Sockets Layer) and TLS (Transport Layer Security) encryption protocols to protect user data and transactions, to multi-party computation (MPC) for the custodial wallets that secure users\u2019 crypto, we have a comprehensive array of checks and guardrails in place to ensure users\u2019 investment is as secure as it is seamless on CoinSwitch. <\/p>\n\n\n\n
The safety measures ensure the users’ crypto holdings, data, CoinSwitch app, and servers are safeguarded from hacks and attacks. You can read a detailed blog about all the measures we have in place here<\/a>.<\/p>\n\n\n\n In addition to security measures, we also maintain a Proof of Reserve (PoR) to cover all user redemptions. CoinSwitch\u2019s total holdings are greater than its users\u2019 holdings (numbers as on March 31, 2025, 24:00 hrs IST):<\/p>\n\n\n\n This means CoinSwitch maintains a holdings ratio of over 1:1 for both crypto and INR balances, ensuring all users can fully redeem their cryptos at any time, even in extreme scenarios.<\/p>\n\n\n\n\n