“$BTC 44 Million Vanished Overnight: CoinDCX Hit by Major Crypto Breach — Users on Edge
India’s leading cryptocurrency exchange CoinDCX was hit by a major security breach on July 18–19, 2025, involving an internal operational wallet used for liquidity management. The incident led to an estimated $44 million in crypto assets being drained, mostly from Solana (SOL) and later transferred to Ethereum (ETH).
The breach was first flagged by blockchain investigators ZachXBT and Cyvers, who noted suspicious activity, including transfers from Tornado Cash, a well-known crypto mixer. CoinDCX quickly responded, confirming the incident and clarifying that no customer funds were affected, as all user assets are stored in cold wallets, separate from operational wallets.
Co-founder Sumit Gupta stated that the exchange has isolated the compromised wallet, is cooperating with cybersecurity experts, and will fully absorb the losses from its own treasury. The platform also temporarily halted Web3 trading as a safety measure but assured that spot trading and INR withdrawals remain active.
CoinDCX plans to launch a bug bounty program, conduct deep security audits, and has committed to transparent updates for users. The team is also working with partners to attempt recovery of the stolen assets.
This incident comes a year after WazirX, another Indian exchange, suffered a $235 million hack. The CoinDCX breach underscores ongoing vulnerabilities in centralized exchanges, especially in managing hot wallets and liquidity provision systems.
While CoinDCX’s rapid response has been praised, the event highlights the need for stronger internal security and may prompt further regulatory scrutiny in India’s growing crypto sector.
