Indian crypto exchange CoinDCX hacked, $44 million drained
2025-07-19 16:51:44
Main Idea
Indian cryptocurrency exchange CoinDCX was hacked, resulting in a loss of $44 million, but no user funds were affected as the loss was absorbed by the exchange's treasury reserves.
Key Points
1. CoinDCX was hacked on Friday, with $44 million drained from an internal account used for liquidity provisions.
2. The breach was contained quickly, and no user funds were impacted, according to CEO Sumit Gupta.
3. The attacker's address was funded with 1 Ether from Tornado Cash.
4. Analyst Infinity Hedge noted that another Indian exchange, WazirX, was hacked for $235 million on the same day.
Description
The cybersecurity exploit occurred due to a "sophisticated server breach," CoinDCX CEO and co-founder Sumit Gupta announced on Saturday.
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