Indian exchange CoinDCX has suffered a cybersecurity attack, resulting in the loss of $44 million. This incident comes exactly one year after Indian exchange WazirX suffered a $235 million hack.

CoinDCX Server Breach: User Funds Secure
In an X post on July 19, CoinDCX CEO Sumit Gupta said that the crypto exchange suffered a server breach to one of its internal operational accounts. Gupta said that the affected wallet address is only used for liquidity supply on a partner exchange. Therefore, all assets in user wallets are safe and accounted for, with INR withdrawals fully functional.

Furthermore, the CoinDEX CEO states the hack has been contained by isolating the affected operational account. Meanwhile, the value of the total lost assets would be offset by the exchange’s reserve as they commence efforts to track down the parties behind this hack.

Gupta explains that these efforts involve various legs, ranging from an ongoing internal security review to the planned launch of a bug bounty program.



Source: https://www.mitrade.com/insights/news/live-news/article-3-972415-20250720