After WazirX, CoinDCX Loses Rs 380 Crore In Massive Cryptocurrency Hack

In a major cybersecurity incident, Indian cryptocurrency exchange CoinDCX confirmed that hackers stole around $44 million (around Rs 380 crore) by breaching one of its internal accounts. The company clarified that the compromised account was used only for liquidity provisioning with a partner exchange. CoinDCX is currently investigating the hack in collaboration with government agencies and partner platforms.

Funds Stolen via Crypto Bridges

CoinDCX co-founder and CEO Sumit Gupta revealed on X (formerly Twitter) that the breach involved an internal operational account, completely isolated from customer wallets. Security researcher ZachXBT first reported the incident, stating that hackers drained nearly $44.2 million in cryptocurrencies.

According to a TechCrunch report, CoinDCX confirmed that the attacker routed the stolen assets through Solana-Ethereum blockchain bridges and moved them into wallets holding 4,443 ETH (Ethereum) and 155,830 SOL (Solana). These wallets remain dormant for now. The attacker also used Tornado Cash – a crypto-mixing service – to cover their tracks.

No Impact on Users

CoinDCX, which has over 16 million users and is registered with India’s Financial Intelligence Unit, assured that the breach was contained swiftly. Gupta emphasised that customer wallets were never at risk, and losses will be fully covered by the company’s own treasury.

Gupta stated that the company isolated the affected account and was working with the exchange partner to trace and recover assets. The company is also working closely with CERT-In, India’s cybersecurity agency.

Recovery Efforts and Bounty Program

To aid in recovery, CoinDCX has launched a “recovery bounty” program, offering up to 25% of any funds recovered to individuals who help trace the stolen crypto. Gupta said that the company is working on recovering funds and also identifying the hackers to prevent such attacks in the future.

Last year, rival Indian crypto exchange WazirX also suffered a massive $230 million (over Rs 1,980 crore) loss in one of the biggest hacking attacks.