🚨 $44M CoinDCX Hack: Employee Arrest Raises Critical Questions on Cybersecurity & Insider Risk

⚠️ In a major setback for India’s crypto space, CoinDCX has confirmed a $44 million hack involving one of its internal accounts. While no user funds were impacted, the case has taken a dramatic turn: a CoinDCX software engineer has been arrested, accused of unintentionally aiding the breach.

🔑 Key Developments:

• Police allege the engineer’s company-issued laptop was compromised via malware

• Hackers posed as recruiters in a social engineering attack to gain access

• Engineer denies intentional wrongdoing, citing possible internal vulnerabilities

• $44M in crypto was siphoned to six wallets in under 8 hours on July 19

💡 This incident underscores a growing challenge for Web3 companies:

➡️ Human error and insider access remain the top cybersecurity vulnerabilities

➡️ The importance of robust endpoint protection and zero-trust policies is more crucial than ever

➡️ Cyber hygiene training must evolve to counter increasingly sophisticated social engineering tactics

#CoinDCX #Crypto #Cybersecurity #Web3 #Blockchain

https://coingape.com/coindcx-employee-arrested-in-44m-crypto-hack-denies-involvement/?utm_source=bnb&utm_medium=coingape