20.07.2025 07:24

A significant security breach has rocked the cryptocurrency landscape, impacting the Indian exchange CoinDCX. Blockchain analyst ZachXBT reported a cyberattack resulting in a staggering $44.2 million loss, approximately 17 hours prior to the information's public release. While the exchange itself remained officially silent initially, this substantial theft was first flagged by the blockchain security platform Cyvers.


Sumit Gupta, CoinDCX's CEO, subsequently acknowledged the attack via a post on X (formerly Twitter). Gupta explained the compromise stemmed from a sophisticated server breach targeting an internal operational account, exclusively used for maintaining liquidity on a partner exchange. Crucially, he emphasized that customer funds were untouched, held securely in separate wallets unaffected by the incident.


The attacker's activity, as detailed by ZachXBT, involved the use of Tornado Cash to initially fund their address with 1 ETH, followed by the transfer of some stolen assets from the Solana network to the Ethereum blockchain. Significantly, ZachXBT highlighted the attacker's use of an untagged CoinDCX hot wallet, detected only through meticulous address analysis. Gupta further reassured users that the breach was swiftly contained and that CoinDCX absorbed the losses from its own treasury.


The incident underscores the persistent vulnerability of even established cryptocurrency exchanges to sophisticated cyberattacks. While CoinDCX claims to have mitigated the risk to users effectively, the scale of the breach serves as a stark reminder of the ongoing security challenges within the cryptocurrency ecosystem. This information is for informational purposes only and does not constitute investment advice.