The tweet was deleted by the author.
But we saved everything 🙂.
CoinDCX hacked for $44 million, user funds remain safe
CoinDCX, one of India’s largest cryptocurrency exchanges, confirmed a $44 million hack but assured users that their funds remain safe and unaffected. The company pledged to fully cover the losses from its treasury reserves.
According to CEO Sumit Gupta, the breach was the result of a “sophisticated server-side exploit” that compromised one of the exchange’s internal operational accounts used for providing liquidity on a partner platform.
The incident was contained by isolating the affected operational account. Gupta emphasized that the impact was limited solely to that account and did not affect any user wallets.
“Customer funds remain safe. Your assets are fully protected within our secure cold wallet infrastructure. All trading and INR withdrawals are fully functional,” Gupta reassured users via a post on X (formerly Twitter).
Situation under control
On-chain analyst ZachXBT reported that the attackers used Tornado Cash to launder the stolen funds and later bridged some assets from Solana to Ethereum. However, the movement of the stolen funds is being closely tracked.
Gupta added that CoinDCX is working with its partner exchange to freeze and recover the assets. The exchange has also launched a bug bounty program to improve its security measures.
He noted that he may host a live session on X soon to address user concerns directly.
As we wrote, WazirX users denied justice after $234M hack as Supreme Court bows out
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