Indian Crypto Exchange CoinDCX Suffers Major Hack, Loses $44 Million in Security Breach
2025-07-20 09:41:17
Main Idea
Indian crypto exchange CoinDCX suffered a $44 million hack due to a server breach, with the attacker using funds from Tornado Cash and bridging stolen assets across blockchains.
Key Points
1. CoinDCX confirmed a $44 million security breach, first identified by blockchain investigator ZachXBT, who traced the attack to an address funded via Tornado Cash.
2. The attacker bridged a portion of the stolen funds from Solana to Ethereum, highlighting cross-chain vulnerabilities.
3. CoinDCX CEO Sumit Gupta stated the exchange would cover losses from its treasury and announced plans for a bug bounty program.
4. The hack follows a 2024 incident involving WazirX, linked to North Korea’s Lazarus Group, raising concerns about recurring security flaws in Indian exchanges.
5. Despite its unicorn status and acquisitions like BitOasis, CoinDCX has faced criticism for restrictive withdrawal policies requiring KYC verification.
Description
Indian crypto exchange CoinDCX has confirmed a major security breach that resulted in the loss of $44 million. Key Takeaways: CoinDCX suffered a $44 million hack caused by a server breach. The attack was first flagged by blockchain analyst ZachXBT. The breach follows the 2024 WazirX incident linked to North Korea’s Lazarus Group. The exploit took place early Saturday morning and was first identified nearly 17 hours later by blockchain investigator ZachXBT, who linked the compromised wallet to Co...
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