🚨 $44.2M Crypto Heist Hits CoinDCX — What You Need to Know 💥🕵️‍♂️📊

India's Largest Crypto Exchange Suffers Sophisticated Attack — But User Funds Are Safe!

✅ Details at a Glance

💸 Hack Amount & Timing:

🕒 CoinDCX confirmed a $44.2 million (₹368 crore) breach on July 19–20, 2025.

💼 The funds were stolen from an internal liquidity provisioning wallet, not user accounts.

🔐 User Funds Unaffected:

👨‍💼 CEO Sumit Gupta reassured users that their assets remain untouched and secure.

🧊 All customer funds are stored safely in cold wallets. The loss is being covered by company treasury.

🧠 How the Breach Happened?:

🖥️ It was a sophisticated server breach targeting operational infrastructure.

🧩 A known on-chain analyst ZachXBT detected the attack, tracing funds from Tornado Cash to cross-chain bridges (Solana ➡️ Ethereum).

🔁 What’s Working Now?:

💹 INR trading and withdrawals are fully operational.

⚙️ Only some Web3 services were briefly paused. The exchange is now collaborating with cybersecurity firms and law enforcement.

📅 Not the First Time:

🇮🇳 This is India’s second major crypto exchange hack in one year.

🗓️ In July 2024, WazirX suffered a $235 million exploit — one of the largest globally.

💡 Takeaways:

✔️ $44.2M stolen from internal treasury

✔️ User wallets are safe

✔️ On-chain tracing via Tornado Cash & Solana–Ethereum bridges

✔️ Business operations continue

🧾 Conclusion

🔎 The $44.2 million hack on CoinDCX highlights ongoing vulnerabilities in internal wallet systems, even among major exchanges.

✅ Fortunately, no customer funds were impacted, thanks to robust cold storage practices.

🤝 With transparent communication, proactive tracing, and cooperation with cybersecurity experts, CoinDCX is actively working toward recovery and maintaining trust.

⚠️ It’s a wake-up call for all crypto platforms to further harden internal infrastructure — not just user-facing systems.

#cyberattacks