$BTC CoinDCX, a leading Indian crypto exchange, suffered a $44.2 million hack on July 19, 2025, with the breach going unnoticed for 17 hours until blockchain sleuth ZachXBT flagged it on X.

Only then did CEO Sumit Gupta confirm the attack, revealing that hackers exploited a server-side vulnerability in an internal liquidity provisioning account used for partner exchanges. Customer wallets, stored in secure cold storage, remained untouched, and CoinDCX pledged to cover the entire loss from its treasury reserves, emphasizing its commitment to user safety.

The exchange has since isolated the compromised account, paused Web3 services temporarily, and is working with cybersecurity experts to trace the stolen funds while planning a bug bounty program.

What do you think—will CoinDCX’s swift response and transparency rebuild user trust, or could the delayed disclosure fuel skepticism in India’s crypto scene?