CoinDCX releases follow-up announcement on 'theft of approximately $44.2 million': losses will be covered by own treasury reserves.

According to BlockBeats, on July 20, Indian cryptocurrency exchange CoinDCX released a follow-up announcement stating that the reason for the attack was due to the internal operating account being compromised as a result of a server attack. The CoinDCX wallet used for storing customer assets was not affected, and the related losses will be fully covered by CoinDCX's own treasury reserves. They are currently in the process of freezing and recovering assets and plan to launch a bug bounty program.

BlockBeats previously reported that CoinDCX was hacked yesterday morning, resulting in a loss of approximately $44.2 million.