Indian Crypto Exchange CoinDCX Suffers $44M Hack
INDIA, JUL 19 – CoinDCX suffered a $44 million loss from an internal wallet breach but secured customer funds and will cover losses from its treasury, working with experts to recover stolen assets.
- On July 19 at 4 a.m., CoinDCX detected unauthorized access to an internal operational account, resulting in a $44 million exposure, according to the CoinDCX security report.
- That breach followed Sumit Gupta, co-founder & CEO, CoinDCX, saying a 'sophisticated server breach' enabled the hack and noting the $230 million WazirX breach nearly a year ago.
- Soon after the breach confirmation, the Web3 platform was paused and then relaunched, while users rushed to withdraw funds.
- The company assured that customer funds remain safe, noting trading and INR withdrawals stayed operational and losses are fully absorbed by treasury reserves.
- This incident highlights ongoing crypto security threats, with detailed forensics underway by India’s Computer Emergency Response Team , and plans for a bug bounty programme to strengthen defenses.
51 Articles
51 Articles
CoinDCX hit by $44.2 mn security breach; founders say customer funds unaffected, safe
CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal took to the social media platform X to address the situation, confirming that the attack was the result of a sophisticated server breach, targeting an internal wallet, not the ones holding customer assets
Crypto platform CoinDCX loses Rs 368 crore in major hack, user funds safe, investigation underway
In a major cybersecurity breach, CoinDCX, one of India's cryptocurrency exchanges, has confirmed a hacking attack that led to a loss of around USD 44 million (nearly Rs 368 crore). The hack took place early on Saturday and targeted one of the company's internal operational accounts. However, the Mumbai-based crypto platform has assured users that their personal funds are completely safe. In a statement, CoinDCX clarified that the compromised acc…
Crypto-exchange CoinDCX hacked: $44 million gone in a blink — Here’s all you need to know
CoinDCX confirmed a $44 million security breach, but assured customers their assets are secure. The co-founder advised against panic selling. Here's how the company will cover the losses.
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