🚨 $44.2M Crypto Heist Hits CoinDCX — What You Need to Know 💥🕵️♂️📊
India's Largest Crypto Exchange Suffers Sophisticated Attack — But User Funds Are Safe!
✅ Details at a Glance
💸 Hack Amount & Timing:
🕒 CoinDCX confirmed a $44.2 million (₹368 crore) breach on July 19–20, 2025.
💼 The funds were stolen from an internal liquidity provisioning wallet, not user accounts.
🔐 User Funds Unaffected:
👨💼 CEO Sumit Gupta reassured users that their assets remain untouched and secure.
🧊 All customer funds are stored safely in cold wallets. The loss is being covered by company treasury.
🧠 How the Breach Happened?:
🖥️ It was a sophisticated server breach targeting operational infrastructure.
🧩 A known on-chain analyst ZachXBT detected the attack, tracing funds from Tornado Cash to cross-chain bridges (Solana ➡️ Ethereum).
🔁 What’s Working Now?:
💹 INR trading and withdrawals are fully operational.
⚙️ Only some Web3 services were briefly paused. The exchange is now collaborating with cybersecurity firms and law enforcement.
📅 Not the First Time:
🇮🇳 This is India’s second major crypto exchange hack in one year.
🗓️ In July 2024, WazirX suffered a $235 million exploit — one of the largest globally.
💡 Takeaways:
✔️ $44.2M stolen from internal treasury
✔️ User wallets are safe
✔️ On-chain tracing via Tornado Cash & Solana–Ethereum bridges
✔️ Business operations continue
🧾 Conclusion
🔎 The $44.2 million hack on CoinDCX highlights ongoing vulnerabilities in internal wallet systems, even among major exchanges.
✅ Fortunately, no customer funds were impacted, thanks to robust cold storage practices.
🤝 With transparent communication, proactive tracing, and cooperation with cybersecurity experts, CoinDCX is actively working toward recovery and maintaining trust.
⚠️ It’s a wake-up call for all crypto platforms to further harden internal infrastructure — not just user-facing systems.
