CoinDCX Hacked: $44 Million Lost, But User Funds Are Safe — What You Need to Know. By ChainFabricNews

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Image source: Cointelegraph

 In a shocking turn of events, one of India’s biggest cryptocurrency exchanges, CoinDCX, was hit by a major cyberattack on July 19, 2025, resulting in a loss of nearly $44 million (₹360 crore). Thankfully, if you're a CoinDCX user, there's some good news — your funds are completely safe.

What Really Happened?

CoinDCX reported that the hack targeted one of its internal operational wallets. These wallets are used by the company for backend functions like managing liquidity across exchanges, and they are completely separate from the wallets where customer funds are stored.

So, while the amount lost is significant, CoinDCX has confirmed that no customer money was affected. The company also said that it will cover the entire loss from its own reserves, ensuring that users don’t feel any financial impact.

How Was the Hack Carried Out?

Cybersecurity researchers and blockchain experts were quick to track the movements of the stolen crypto. The hacker reportedly used Tornado Cash, a crypto mixing service, to hide their tracks. Then, they moved the stolen funds through cross-chain bridges between Ethereum and Solana networks, making it harder to trace.

Despite these efforts, CoinDCX acted fast. It immediately froze the affected wallet and launched a full-scale investigation with help from top cybersecurity firms.

CoinDCX’s Response

CoinDCX co-founder Sumit Gupta shared a public statement assuring users that the issue was under control:

"The affected account has been isolated. We’re taking full responsibility for the loss and covering it entirely from our treasury."

Operations like crypto trading, deposits, and withdrawals continued without any disruption. The team also paused Web3 services briefly to make sure everything else remained secure.

Why This Matters to You

If you're investing in or curious about crypto, this event is an important reminder: Even trusted platforms can be vulnerable. But what stands out in this case is how CoinDCX handled the crisis.

They acted fast, were transparent with the public, and took responsibility — all signs of a company that's serious about building trust in India’s growing crypto space.

What’s Next for CoinDCX?

  • They're working with global cybersecurity firms to track and possibly recover the stolen funds.

  • CoinDCX plans to launch a bug bounty program, encouraging ethical hackers to report vulnerabilities in exchange for rewards.

  • An internal audit is already underway, and stronger security measures are being rolled out.

Final Thoughts

Cyberattacks are a serious risk in the world of crypto. But how a company responds makes all the difference. CoinDCX’s swift and transparent handling of this attack — along with the assurance that user funds are untouched — shows maturity and a long-term commitment to safety.

For Indian crypto users, this hack is a wake-up call, but not a reason to panic. It highlights the need to use platforms that separate their own treasury from customer assets — and act responsibly when things go wrong.

As always, stay informed, use secure wallets, and keep your crypto investments safe.

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