CoinDCX recently suffered hack in one of its internal operational accounts, but user funds remain safe. Here's what's happening :

- Security Breach Details: An internal operational account used for liquidity provisioning on a partner exchange was compromised due to a sophisticated server breach.

- User Fund Safety: CoinDCX assures that customer assets are secure and protected in their cold wallet infrastructure. No customer funds were impacted.

- Investor Protection Fund: CoinDCX has a $5.9 million Investor Protection Fund in place to compensate users in the unlikely event of a security breach.

- Security Measures: CoinDCX employs industry-leading security protocols, including:

- *Multi-party computation (MPC)*: Enhances security by splitting cryptographic keys across multiple devices.

- *Two-factor authentication (2FA)*: Provides robust protection against unauthorized access.

- *Cold wallet storage*: Secures 100% of customer funds offline.

- *Regular security audits*: Identifies and addresses potential vulnerabilities.

- *Response and Investigation*: CoinDCX is working with cybersecurity partners to investigate the incident, patch vulnerabilities, and recover assets. A bug bounty program will also be launched soon.

CoinDCX prioritizes user safety and transparency, assuring users that their funds are secure. The exchange's proactive approach to security and commitment to user protection demonstrates its dedication to maintaining a trustworthy trading environment.

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