The post CoinDCX Loses $44.2M in Suspected Hack, User Funds Safe appeared first on Coinpedia Fintech News
CoinDCX, one of India’s largest crypto exchanges, has reportedly lost around $44.2 million in a suspected hack that occurred about 17 hours ago, according to blockchain investigator ZachXBT. The attacker is believed to have started with just 1 ETH from Tornado Cash and later moved a portion of the stolen funds from Solana to Ethereum.
Users note that CoinDCX has taken down some trading pairs, canceled spot orders, and their Web3 wallet is not working either, leaving them with a lot of questions.
Sumit Gupta, the co-founder and CEO of CoinDCX, shared in a recent X post that the platform suffered a security breach affecting one of its internal operational accounts used for liquidity on a partner exchange. He assured users that no customer funds were impacted, and all user assets remain safe in cold wallets.
The issue was caused by a server compromise, but was quickly contained by isolating the affected internal account. Since this account is separate from customer wallets, the impact was limited. He also shared that trading and INR withdrawals continue to function normally, and losses are being fully absorbed by CoinDCX’s own treasury.
CEO and Co-founder Assure User Assets Are Safe
Sumit said their team is working with cybersecurity experts to fix the issue, recover funds, and launch a bug bounty program to improve security. He promised to keep the community updated and stressed the importance of staying transparent during incidents like this.
Neeraj Khandelwal also assured that customer funds are safe, and trading, INR, and crypto withdrawals are working as usual. The team is actively investigating the incident and working with crypto forensics firms to recover funds from their treasury. CoinDCX Web3 is temporarily down as a precaution, but user funds remain safe.
In a latest update, Sumit confirmed that INR withdrawals are fully up and running on CoinDCX. Users have also shared positive feedback about fast and smooth transactions.
INR withdrawals remain fully operational on CoinDCX
https://t.co/xDTCapKxct
— Sumit Gupta (CoinDCX) (@smtgpt) July 19, 2025
Community Divided Over Delayed Response
While some praised the team for being transparent and stepping up with clear communication, others noted the delayed response as the official statement came only after ZachXBT brought the incident to light.
