CoinDCX Hacked for $44.2 Million ; Breach Exposed by On-Chain Investigator After 17-Hour Silence
2025-07-20 00:19:33
Main Idea
CoinDCX suffered a $44.2 million hack, which went undetected for 17 hours before being exposed by on-chain investigator ZachXBT, highlighting flaws in the exchange's crisis response and security measures.
Key Points
1. The exploit involved $44.2 million being laundered across Solana and Ethereum using cross-chain tools.
2. The breach was not disclosed by CoinDCX but was uncovered by independent investigator ZachXBT.
3. The attacker initiated the hack with 1 ETH from Tornado Cash and used bridges to move stolen assets between blockchains.
4. CoinDCX CEO Sumit Gupta acknowledged the breach and emphasized transparency after the public exposure.
5. The incident raises concerns about the security and crisis response mechanisms of crypto exchanges.
Description
CoinDCX exploit went undetected for 17 hours, exposing flaws in crisis response. Attacker laundered $44.2M across Solana and Ethereum using stealthy cross-chain tools. CEO confirms no user funds lost, pledges treasury coverage and stronger security steps. In another major blow to India’s homegrown crypto exchange industry, CoinDCX has been hit by a sophisticated exploit that drained approximately $44.2 million from an internal hot wallet. The incident, reminiscent of the security challenges face...
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