Indian crypto exchange CoinDCX hacked
21.07.2025
Indian cryptocurrency exchange CoinDCX suffered a cyberattack that resulted in the theft of approximately $44.2 million. The first reports came from on-chain analysts, including researcher ZachXBT, who flagged suspicious transactions before any official statement from the exchange.It took 17 hours for CoinDCX co-founder Sumit Gupta to confirm the breach. According to him, the attackers targeted an internal operational account used exclusively to provide liquidity on a partner exchange. This account was separate from the main wallets that store client funds.Gupta emphasized that user assets remained safe and the breach was quickly contained to a single technical layer. All losses are being covered by CoinDCX’s treasury, and the platform continues to operate normally – trading, deposits, and withdrawals remain unaffected.The team has engaged external cybersecurity experts and is working with the partner exchange to trace the stolen funds. The goal is to block and recover the assets wherever possible.The incident sparked concern in the community, especially since it occurred exactly one year after the Indian exchange WazirX was hacked for over $235 million. That platform has yet to officially resume operations.The CoinDCX case once again highlights the vulnerability of centralized platforms and the importance of rapid crisis response.