CoinDCX Investigates Possible Credential Compromise in $44 Million Hack Involving Staff Engineer
Main Idea
CoinDCX suffered a $44 million hack due to compromised employee credentials, leading to the arrest of a staff engineer, with the company emphasizing no user funds were affected and urging against speculation during the ongoing investigation.
Key Points
1. The $44 million hack at CoinDCX was caused by compromised credentials of engineer Rahul Agarwal's work laptop, leading to unauthorized server access.
2. Rahul Agarwal, a staff engineer with over two years of experience at CoinDCX, was arrested following the breach.
3. CoinDCX CEO Sumit Gupta described the incident as a 'sophisticated social engineering attack' and confirmed no user funds were affected.
4. The hack occurred on July 19, 2025, with funds stolen from an internal liquidity account.
5. CoinDCX is cooperating with authorities and discouraging media speculation to ensure a transparent investigation.
Description
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