CoinDCX hit by cyberattack — $44 million drained

CoinDCX hit by cyberattack — $44 million drained

Indian cryptocurrency exchange CoinDCX has faced a significant cyberattack, resulting in the draining of approximately $44 million from one of its internal operational accounts. The breach occurred on July 19, 2025, and was first identified by blockchain sleuth ZachXBT approximately 17 hours after it began [1].

The attack compromised an internal account used for liquidity provisioning with another exchange, but no customer funds were affected. Sumit Gupta, Co-founder and CEO of CoinDCX, confirmed that all customer assets remain safe in a secure cold wallet infrastructure [1]. Gupta stated that the incident was quickly contained by isolating the affected operational account and that the exposure was limited to this specific account, which CoinDCX will absorb from its own treasury reserves [1].

CoinDCX has halted its Web3 operations as a precautionary measure but maintains that trading activity and INR withdrawals continue to be fully operational [1]. The exchange is collaborating with its partner exchange to block and recover the stolen assets and will soon launch a bug bounty program to identify and address any vulnerabilities [1].

This incident is a stark reminder of the persistent cybersecurity threats facing the crypto industry. It follows closely on the heels of a similar attack on WazirX, another prominent Indian exchange, which lost $235 million on the same date last year [1, 2].

As the crypto industry continues to grow, incidents like these highlight the need for robust security measures and regulatory oversight. CoinDCX has emphasized its commitment to transparency, sharing details of the incident with the community and assuring customers that their assets are secure [1].

References:
[1] https://www.moneycontrol.com/news/business/startup/crypto-exchange-coindcx-hit-by-cyberattack-44-million-drained-from-internal-operational-account-13298499.html
[2] https://cointelegraph.com/news/crypto-exchange-coindcx-hacked-42-million-drained?utm_campaign=rss_partner_inbound&utm_medium=rss&utm_source=rss_feed