🚨 India’s Top Crypto Exchange HACKED for $44.2M! Here’s What Happened:
On July 19, 2025, CoinDCX — India’s largest crypto platform — was breached, with hackers stealing $44.2 million from an operational wallet in just minutes. Thankfully, user funds were untouched.
Shockingly, CoinDCX stayed silent for 17 hours until blockchain investigator ZachXBT exposed the incident. CEO Sumit Gupta later admitted one of their internal liquidity accounts was compromised but assured users their assets remained safe.
Investigators have linked the breach to North Korea’s #LazarusGroup . A 1 USDT “test” transaction on July 16 hinted at the hack, followed by the funding of the hacker’s wallet with 1 ETH from Tornado Cash. The stolen assets were partially bridged from Solana to Ethereum.
While the exact exploit method is unclear, experts suspect leaked credentials allowed backend access. The delayed disclosure sparked backlash from the crypto community demanding more transparency.
CoinDCX is now working with cybersecurity firms to trace the funds, seal security gaps, and uncover the full attack vector.
