Sridhar Govardhan has been hired as the Chief Information Security Officer (CISO) of the CoinDCX cryptocurrency exchange to oversee its cybersecurity preparation. Govardhan was formerly Flipkart's vice president and director of information security. 

The company wants to increase engagement by emphasising the provision of cutting-edge security precautions. Govardhan formerly oversaw Wipro and Infosys' cybersecurity protections. Several capitalists recently left the cryptocurrency sector after potential businesses became the victims of hack attempts and abruptly crashed.

Govardhan will head the Information Security Liaisons and the Information Security Advisory Committee as one of his primary duties to advance information security across the exchange's environment. 

Mr Govardhan says he is thrilled to be a part of this innovative business and improve CoinDCX's overall security to add to the developing information security environment in the industry, particularly as cryptocurrencies lead the digital future. 

In a written statement, the new CISO of CoinDCX stated, "We will be improving the security credentials of the entire crypto ecosystem by designing and executing the best-in-class safety solutions, aiming at giving CoinDCX the first-mover advantage.

The platform claims that it wants to meet the needs of its users by providing top-notch protection against hacker attacks and other weaknesses that could subject them to dangers and losses in terms of money. 

"As we are expanding, this also necessitates increasing security and openness. Sridhar will take the helm of our efforts to establish and maintain an effective corporate information security framework and to create a multi-tiered security infrastructure in line with international standards, according to CoinDCX co-founder Neeraj Khandelwal.

According to new research by Chainalysis, cryptocurrency thefts last year were at an all-time high, with cybercriminals stealing up to $3.8 billion (nearly Rs. 31,100 crores). In light of the situation, CoinDCX wants to guarantee that its clients can experiment with cryptocurrencies while still transacting online safely.

The exchange also introduced the "Namaste Web3" crypto awareness campaign for Indian investors and industries. CoinDCX offers services in addition to the standard exchange services for trading in cryptocurrencies, including margin trading, futures, lending, staking, and more.

A cryptocurrency exchange (DCE) lets customers trade cryptocurrencies for fiat currency or other assets. Exchanges allow credit cards, bank transfers, and other transactions for virtual currencies or cryptocurrency.