Archive · 20 Jul 2025
CoinDCX Suffers $44 Million Security Breach; Customer Funds Safe
CoinDCX, a crypto exchange, got hacked and lost about $44 million.
But don't worry, your money is safe!
The hackers got into a special account used for certain operations, not the accounts where customers keep their money.
CoinDCX is using its own money to cover the loss.
They're working hard with security experts to fix things and find out what happened.
They want to make sure everything is safe for everyone, and that's why the company announced the incident on social media.
CoinDCX is also trying to help find vulnerabilities by starting a 'bug bounty' program where they can pay ethical hackers.
In the meantime, the exchange is still working as usual.
Cryptocurrency exchange CoinDCX suffered a security breach, resulting in a loss of approximately $44 million (₹378 crore).
The breach targeted an internal operational account used for liquidity provisioning, not customer funds.
CoinDCX stated that customer assets are safe and trading/withdrawals continue unaffected.
The company is covering the losses from its treasury reserves.
CoinDCX is working with cybersecurity partners, launching a bug bounty program, and has informed CERT-In.
- Who
- CoinDCX was the victim of a sophisticated server breach, with the affected accounts being related to operational activities.
- What
- A security breach at CoinDCX, a cryptocurrency exchange, resulted in a loss of approximately $44 million.
- When
- The breach occurred on July 19, 2025.
- Where
- The breach affected CoinDCX, an Indian cryptocurrency exchange.
- Why
- The exact cause of the server breach is still under investigation by CoinDCX and its security partners.
Criticism
CoinDCX Response
Disclosure Timing
Criticism
Some users criticized the delay in public disclosure of the hack.
CoinDCX Response
CoinDCX stated that they needed time for a thorough investigation before releasing the information.
Security
Criticism
Concerns raised regarding the broader security of crypto platforms in India.
CoinDCX Response
CoinDCX reassured customers regarding the safety of their funds, and assured that trading and withdrawals were working without issues.
- Company
- CoinDCX
- Loss Amount
- $44 million (₹378 crore)
- Type of Breach
- Sophisticated Server Breach
- Affected Account
- Internal operational account
- Customer Funds
- Unaffected, safe
- Response
- Working with cybersecurity partners and CERT-In