Bitcoin Exchange CoinDCX Lost $44 Million Due to Hack
2025-07-21 01:56:47
Main Idea
Indian crypto exchange CoinDCX was hacked, resulting in a loss of approximately $44.2 million, but customer assets remained safe as the losses were covered by treasury funds.
Key Points
1. CoinDCX was hacked on July 18, with attackers withdrawing assets worth ~$44.2 million.
2. CoinDCX co-founder Sumit Gupta confirmed that customer wallets were unaffected and secure.
3. All platform losses were covered by treasury funds.
4. The attack occurred a year after India's WazirX exchange was hacked for ~$235 million.
5. Hacker attacks in 2025 reached $2.1 billion, with the largest being the $1.5 billion Bybit hack in February.
Description
On July 18, Indian centralized crypto exchange CoinDCX was hacked. According to data from onchain sleuth ZachXBT, the attacker withdrew assets worth ~$44.2 million. The expert noted that the exchange's team did not report the attack for about 17 hours. CoinDCX co-founder Sumit Gupta responded to ZachXBT's Telegram post a few minutes later, confirming the incident. According to him, as a result of a ”sophisticated attack” on the server, the hacker compromised the platform's internal operating acc...
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