CoinDCX Crypto Exchange Hacked, $44M Stolen💥

Indian cryptocurrency exchange CoinDCX 💻 was hit by a cyberattack on Friday, draining a massive $44 million 💸 from the platform. The breach exploited a sophisticated server vulnerability 🕵️‍♂️, compromising an internal account used for liquidity provision to another exchange.

💬 CEO Sumit Gupta reassured users that no customer funds were affected. He stated the hack was quickly contained 🔒 by isolating the compromised account. As CoinDCX keeps operational accounts separate from customer wallets, the loss will be fully absorbed 💰 by the company itself.

The attackers 🖤 moved stolen funds across blockchains, including Ethereum ⛓️ and Solana 🌐. Blockchain sleuth ZachXBT tracked the movement, noting that 1 Ether (ETH) was sent from Tornado Cash to the hacker’s wallet before funds were bridged from Solana to Ethereum 🔄.

While CoinDCX did not respond for further comment, the incident is a harsh reminder of the cybersecurity threats facing the crypto world 🌍. This attack mirrors last year's hack on WazirX, which lost $235M 💣.

In the past month, other exchanges were also targeted:

Nobitex 💥 lost $100M due to a politically motivated hack.

GMX V1 🚨 saw $40M drained, though the funds were later returned after a white-hat bounty 🎯 was paid.

Arcadia Finance 🔐 lost $3.5M in a smart contract exploit.

⚠️ This ongoing wave of cybercrime shows the constant risk 🔥 faced by the crypto industry and serves as a wake-up call 🔔 for exchanges to enhance their security measures!

👉 Follow me for more latest updates and insights 👍

Thankyou 🙏