CoinDCX Security Incident Report

On July 18, Indian cryptocurrency exchange CoinDCX experienced a security breach resulting in significant financial losses. According to renowned on-chain investigator ZachXBT, attackers managed to steal approximately $44.2 million during the incident.

The platform's response time came under scrutiny as it took about 17 hours to publicly report the breach. For more detailed analysis of how CoinDCX was hacked by attackers, you can read the comprehensive report on DecryptHub's investigation into the CoinDCX hack.

CoinDCX co-founder Sumit Gupta addressed community concerns, explaining that the breach was limited to an internal operational account used for liquidity provision. Gupta emphasized that all customer funds remained secure throughout the incident and were never at risk.

The exchange's security team acted swiftly to contain the attack, minimizing potential damage. In their official statement, CoinDCX assured users that any financial losses resulting from the breach would be fully covered by the company's treasury funds, with no impact on customer assets.