🚨 Massive Crypto Heist: CoinDCX Loses $44M in Internal Breach

India’s leading crypto exchange CoinDCX suffered a $44 million theft (₹​~₹​379 crore) in mid‑July, involving only the company’s operational wallet—not user funds. Authorities say the attack began with a fake job offer via WhatsApp, which led a CoinDCX engineer to unwittingly install malware on his work laptop. Hackers then used his credentials to drain funds into six separate crypto wallets.

The employee, Rahul Agarwal, has been detained after investigations revealed ₹ 15 lakh in unexplained deposits to his bank account, raising suspicions of insider collusion. He denies involvement, claiming ignorance of the theft until after it occurred.

Authorities also suspect North Korean-linked actors may be involved, citing similarities to previous Lazarus Group operations. The stolen assets remain largely untraced.

In response, CoinDCX has launched an $11 million bounty program to recover the funds, and is cooperating fully with law enforcement. The exchange insists that customer holdings were unaffected—the breach was limited to internal operational accounts.

Key takeaways:

Human error and social engineering remain crypto’s Achilles’ heel.

Even trusted internal employees can be compromised.

Rigorous device security and credential management are non-negotiable.

Vigilance is essential—even among senior teams.

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