CoinDCX launches $11M bounty to recover $44M stolen in crypto breach
Main Idea
CoinDCX has launched an $11M bounty to recover $44M stolen from its internal wallet, with no customer funds affected, and is working with cybersecurity firms to trace the hacker.
Key Points
1. CoinDCX confirmed a $44M theft from its internal wallet, with no impact on customer funds.
2. The exchange is offering an $11M bounty to help trace the stolen crypto and identify the hacker.
3. Stolen funds were routed through Tornado Cash, complicating recovery efforts.
4. The breach stemmed from an internal wallet vulnerability, identified by blockchain security firm Cyvers.
5. This incident is the second-largest publicly known exchange exploit in India, following WazirX's $230M breach in 2022.
Description
Indian crypto exchange CoinDCX has launched an aggressive recovery campaign after confirming a $44 million theft from one of its internal operational wallets. The incident, which is the second-largest publicly known exchange exploit in India, involved no customer funds. However, CoinDCX has offered a bounty of up to $11 million to incentivise the tracking and return of the stolen digital assets. The stolen funds were moved through mixing services like Tornado Cash, raising the complexity of the ...
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