Another Giant Crypto Hack: India’s CoinDCX Hacked!

Metaverse Planet July 23, 2025Last Updated: July 23, 2025

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CoinDCX, one of India’s largest cryptocurrency exchanges, has fallen victim to a new attack method, resulting in a loss of $44 million.

The India-based cryptocurrency exchange CoinDCX has confirmed it suffered a major cyberattack. The attack, which occurred last weekend, led to approximately $44 million worth of crypto assets being stolen from the exchange.

ZachXBT reported that 1 ETH was sent to the attacker’s wallet via Tornado Cash, and some of the stolen funds were transferred from Solana to Ethereum. In short, complex methods were used to conceal tracks during the attack. CoinDCX will cover the $44 million loss from its own funds.

CoinDCX CEO Sumit Gupta promptly acknowledged the attack. While it was explained that the attack stemmed from a server vulnerability in the company’s internal systems used for liquidity provision, it was stated that user assets were not affected, and the damage incurred would be covered by CoinDCX’s own budget.

The company is currently collaborating with its partners to freeze and recover the stolen assets. Additionally, a bug bounty program is expected to be launched soon. Through this, the company aims to prevent similar scenarios, like the one that just occurred, from happening in the future. Another noteworthy point regarding this attack is its timing, precisely one year after another Indian exchange, WazirX, was hacked. The WazirX case was linked to the North Korea-affiliated Lazarus Group at the time, but no group has claimed responsibility for the current CoinDCX attack.