Recently, the Indian cryptocurrency exchange CoinDCX suffered a hacking attack, resulting in the theft of $44 million. According to the investigation, one of the company's employees is involved in the crime, who likely provided the hackers access to the internal operational wallet. The attack occurred on July 18, 2025, when the perpetrators exploited a vulnerability in the server's security system to withdraw assets intended to provide liquidity on the partner platform. CoinDCX CEO Sumit Gupta confirmed the incident, assuring that users' funds remained untouched and that losses are being covered from the company's reserves.
Experts suggest that the employee may have acted out of selfish motives or under pressure. The hackers quickly moved the stolen assets through several wallets, complicating their tracking. The exchange is working with cybersecurity specialists to investigate and recover the funds, and has announced a reward program of up to $11 million for assistance in identifying the perpetrators. This case highlights the vulnerability of centralized platforms and serves as a reminder of the need to strengthen security.
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