The CoinDCX exchange was hacked and 44 million dollars were stolen
The cybersecurity vulnerability occurred due to a "sophisticated server breach," as announced on Saturday by Sumit Gupta, CEO and co-founder of CoinDCX.
The Indian cryptocurrency exchange platform CoinDCX was hacked on Friday, resulting in a loss of USD 44 million.
The hackers compromised one of CoinDCX's internal accounts used for "liquidity provisions" with another exchange platform through a server breach.
According to CoinDCX's CEO, Sumit Gupta, user funds were not affected by the attack. The CEO also stated that all customer funds remain secure and wrote:
"The incident was quickly contained by isolating the affected operational account. Since our operational accounts are separate from customer wallets, the exposure is limited solely to this specific account and is being fully absorbed by us, charged to our own treasury reserves."
"The attacker's address was funded with 1 Ether (ETH) from Tornado Cash and later transferred part of the stolen funds from Solana to Ethereum," said on-chain researcher ZachXBT.