⚠️ CoinDCX Employee Arrested Over $44M Exchange Hack:
• On July 19, 2025, CoinDCX, India's largest cryptocurrency exchange, experienced a significant security breach resulting in the theft of approximately $44 million.
• The attackers compromised an internal operational account used for liquidity provisioning, draining the funds within minutes. Notably, customer funds remained unaffected due to the exchange's robust security measures.
• During the investigation, Bengaluru police uncovered evidence suggesting possible insider involvement. Rahul Agarwal, a CoinDCX employee, was arrested in connection with the incident. Agarwal had been using a company-issued laptop for freelance work without authorization and had reportedly earned around ₹15 lakh over the past year. Investigators believe he may have collaborated with external hackers to execute the heist.
• In response to the breach, CoinDCX launched a recovery bounty program, offering up to 25% of any recovered funds to individuals who assist in tracing and retrieving the stolen cryptocurrency. The company emphasized its commitment to identifying and apprehending the attackers to prevent future incidents.
• This incident underscores the persistent cybersecurity challenges faced by cryptocurrency exchanges and highlights the importance of stringent security protocols to safeguard user assets.