CoinDCX Employee Arrested Over $44M Exchange Hack

Key Points

1. Rahul Agarwal, a CoinDCX software engineer, was arrested on July 26 for allegedly facilitating a $44 million (₹384 crore) hack through malware-infected devices.

2. The hack began with a test transfer of 1 USDT on July 19, followed by the major theft, with funds moved across six digital wallets.

3. CoinDCX confirmed the breach but assured treasury reserves were unaffected, offering a 25% bounty for recovered funds.

4. Global crypto theft rose 17% in 2024 to $2.2 billion, with India emerging as a hotspot for cybercrime tactics like fake job offers and deepfake interviews.

5. North Korean hackers were recently reported using fake job schemes to infiltrate systems, highlighting growing cybersecurity threats in the crypto industry.