CoinDCX Hit by $44.2 Million Security Breach, Says Users Unaffected

Cryptocurrency exchange CoinDCX has suffered a security breach, resulting in the theft of $44.2 million (₹378 crore), even as the founders took to X to reassure that customer funds remained unaffected and safe, with the compromise being limited to an internal operational account.

- PRESS TRUST OF INDIA

The total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves, the company said in a First Incident Report released on Sunday.

According to the report, on July 19, at 4 am IST, CoinDCX security systems detected an incident involving unauthorized access to one of its accounts on a partner exchange, leading to a financial exposure of about $44 million.

The incident once again puts the spotlight on mounting security threats in the highly volatile world of cryptocurrencies. Last year, crypto exchange WazirX faced a hack in India, leading to the loss of more than $230 million, and marking one of the biggest such heists in India. The theft had prompted a thorough examination of safety measures and eroded sentiments.