New Delhi, Oct. 15 -- American cryptocurrency exchange Coinbase has agreed to invest an undisclosed sum in Mumbai-headquartered CoinDCX at a valuation of $2.45 billion, as part of its expansion into India and West Asia.

Mint was the first to report, in July, that Coinbase was considering investing in CoinDCX, one of India's largest crypto exchanges that was valued at about $2.2 billion three years ago.

In a post on LinkedIn, CoinDCX founder Sumit Gupta said the deal was subject to regulatory approvals.

CoinDCX had in July reported a crypto theft of $44 million after hackers targeted an internal account used to provide liquidity to customers. No customer funds were lost.

The companies did not confirm how much will be invested or the ti...