CoinDCX

An investigation into a massive hack targeting Indian crypto exchange CoinDCX has led to the arrest of one of its own — 30-year-old software engineer Rahul Agarwal. Authorities claim Agarwal was unknowingly lured into a job scam, during which hackers tricked him into installing malware on his company-issued laptop.

Company Laptop Compromised by Hackers
According to official reports, Agarwal’s workstation was infected with malware that gave attackers access to CoinDCX’s internal systems. Using these credentials, the hackers reportedly transferred a staggering $44 million to six separate crypto wallets.
Agarwal denies any intentional wrongdoing, insisting he was a victim himself. He suggested that his login credentials were exploited or that the firm’s internal security had vulnerabilities. He also mentioned that he occasionally freelanced outside of his full-time position.

Details of the Attack and Company Response
Police say the breach occurred on July 19 during the early hours of the morning. A suspicious transfer of 1 USDT was detected at 2:37 AM. By 9:40 AM, approximately $44 million had been siphoned off in a matter of minutes.
CoinDCX publicly acknowledged the incident but reassured users that their personal funds remained secure, clarifying that the breach involved an internal account. CEO Sumit Gupta described the event as a “sophisticated case of social engineering” and declined to comment on Agarwal’s arrest due to the ongoing investigation. The company says it is fully cooperating with law enforcement.

No Sale, No Rumors — CoinDCX Stays Independent
Interestingly, this development follows recent rumors that Coinbase was planning to acquire CoinDCX. CEO Sumit Gupta firmly denied these claims, stating on X that the company is “super focused” on building India’s crypto future and is not for sale.
“Keep your head down and stay super focused on building,” Gupta said.
The case underscores the increasing threat of social engineering in the crypto industry. Rather than exploiting just technical flaws, attackers are targeting the employees themselves. CoinDCX acknowledged this trend and promised further security measures once the investigation concludes.

#CoinDCX , #CryptoHack . #CyberSecurity , #Cryptoscam , #CryptoNews

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Recently, the Indian cryptocurrency exchange CoinDCX suffered a hacking attack, resulting in the theft of $44 million. According to the investigation, one of the company's employees is involved in the crime, who likely provided the hackers access to the internal operational wallet. The attack occurred on July 18, 2025, when the perpetrators exploited a vulnerability in the server's security system to withdraw assets intended to provide liquidity on the partner platform. CoinDCX CEO Sumit Gupta confirmed the incident, assuring that users' funds remained untouched and that losses are being covered from the company's reserves.

In July 2025, cryptocurrency hacking incidents surged, with CoinDCX vulnerabilities leading to significant losses.
According to data from blockchain security company PeckShield, cryptocurrency thefts in July 2025 amounted to $142 million, a 27% increase from June's $111 million. The most severe incident was the CoinDCX hack, a complex server intrusion that resulted in $44 million in losses. This attack highlighted the growing threat of vulnerabilities in the backend systems of the cryptocurrency industry.
WOO X phishing attacks exploit social engineering strategies.
Rob Behnke, chairman of blockchain security company Halborn, reported that the WOO X hacking incident on July 24 involved social engineering aimed at infiltrating team members' devices. Attackers exploited this access to penetrate the development environment and conducted multiple malicious transactions before being discovered. This attack affected several blockchains, including Bitcoin, Ethereum, BNB, and Arbitrum.