CoinDCX, India's leading cryptocurrency exchange, announced a reward program of up to 25% from a $11 million fund to recover the $44.2 million stolen on 19/7/2025.
The incident did not affect user assets; the lost funds were internal funds of CoinDCX. This action aims to recover assets and track down the perpetrators while enhancing system security.
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CoinDCX announced a reward program of up to 25% from a $11 million fund to recover the $44.2 million lost.
The incident involved internal funds, not affecting customer assets, the hacker used Tornado Cash to launder money.
CoinDCX is improving its security system, receiving support from reputable organizations in the industry.
How did CoinDCX handle the $44.2 million loss?
CoinDCX co-founder confirmed that the entire amount stolen came from company funds, not affecting user wallets or funds. They have launched a reward program for asset recovery and are actively coordinating with partners to enhance security.
Sumit Gupta and Neeraj Khandelwal, co-founders of CoinDCX, stated: “Our fund has taken responsibility for this loss and has been compensated. We are restructuring security to absolutely protect user assets.”
How did the hacker carry out the attack?
Cybersecurity expert Cyvers Alerts stated that the hacker began transferring 1 ETH through Tornado Cash, a popular money laundering tool, then transferred about $15.8 million to the Ethereum network via cross-chain protocols.
The wallet containing the stolen funds with address 0xEF0c5b9E0E9643937D75C229648158584A8CD8D2 has received over 12,144 ETH, equivalent to over $46 million at the price of $3,818 per ETH, with at least 10 transactions since 19/7/2025.
Cybercrime is an attack on trust. When one person is harmed, the entire industry feels it. It is important to find and catch the perpetrators so that it does not happen again.
— Neeraj Khandelwal, co-founder of CoinDCX, 7/2025
What is CoinDCX's response and security improvement?
CoinDCX publicly disclosed the incident, emphasizing that it did not affect customer assets and compensated for the loss from the company funds. At the same time, the exchange began to enhance security measures and rebuild system infrastructure to prevent similar incidents.
In particular, CoinDCX received support from organizations such as Solana Foundation, Superteam, Wormhole, and deBridge during the investigation and asset recovery.
We have never allowed our wallet system to be attacked, but we are still proactively tightening security and improving system architecture to ensure maximum safety.
— CoinDCX, official announcement 7/2025
How did the movement and laundering of money take place?
According to ZachXBT, the stolen assets were transferred through multiple wallets and networks in a calculated manner. The related wallets spanned the Solana, Bitcoin, and Ethereum networks, complicating traceability.
Summary table of prominent transactions from the hacker's wallet on Ethereum (0xEF0…) as of now:
Transaction Type Amount of ETH Sending Address/Wallet Time Main Transfer 12,144.63 ETH Hacker Wallet 0xEF0c5b9E0… From 19/7/2025 to now Most Recent Large Transaction 674.63 ETH 0xac1891c1…83eC75bEC About 6 hours ago Other Small Transactions 7,027 ETH (10 + 7,017 ETH) Same address during the same period Initial Transaction 4,443 ETH Similar Sending Wallet 2 days ago
Frequently Asked Questions
Where did the lost funds come from and does it affect users?
The entire amount lost has been confirmed to come from CoinDCX's internal funds, not affecting user assets. This was confirmed by the co-founder of CoinDCX in an official announcement.
What has CoinDCX done to enhance security after the incident?
The exchange has restructured its security architecture, enhanced system testing and binding, and coordinated with leading cybersecurity organizations to prevent similar incidents.
How to participate in CoinDCX's asset recovery program?
Individuals with information about the stolen assets or who can assist in tracing may participate to receive a reward of up to 25%, according to CoinDCX's official announcement.
How was the incident discovered?
Blockchain security platform Cyvers Alerts detected the leak when the hacker withdrew funds through Tornado Cash and identified the related wallets using blockchain transaction tracing tools.
Will partner organizations provide any support to CoinDCX?
Partners such as Solana Foundation, Superteam, Wormhole, deBridge, and security experts Sygnia, zeroShadow, Seal911 actively assisted in the investigation and recovery of assets.
Source: https://tintucbitcoin.com/coindcx-thuong-11-trieu-usd-phuc-hoi/
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