CoinDCX Hit By Cyberattack: Exchange To Cover Rs 368 Crore Loss From Treasury
Last Updated:July 20, 2025, 11:33 IST
CoinDCX confirmed a server breach affecting an internal account for liquidity. CEO Sumit Gupta assured users that assets are safe and trading is functional.
Reassuring its users, CoinDCX said it would bear the entire loss from its own treasury reserves, which it claimed are “sufficiently healthy” to absorb the impact.
Crypto exchange CoinDCX confirmed a “sophisticated server breach” on Saturday that compromised one of its internal operational accounts. In a statement, CEO Sumit Gupta assured users that customer assets were unaffected, and that trading and INR withdrawals remain fully functional.
“I confirm that the CoinDCX wallets used to store customer assets are not impacted and are completely safe,” Gupta said in a post on X.
The breached account was reportedly used for liquidity provisioning on a partner exchange. The platform has since isolated the affected account, and security teams are actively working with cybersecurity firms to investigate the incident and patch vulnerabilities.
$44 Million Allegedly Drained
While CoinDCX has not disclosed the exact amount involved, blockchain investigator ZachXBT and security firm Cyvers flagged unusual wallet activity. ZachXBT estimated that nearly $44.2 million was drained, with stolen funds reportedly moved from Solana to Ethereum, and routed via Tornado Cash — a tool known for obfuscating transactions.
ZachXBT raised the alarm nearly 17 hours before CoinDCX publicly acknowledged the breach.
CoinDCX To Cover Losses, No Impact On Users
Reassuring its users, CoinDCX said it would bear the entire loss from its own treasury reserves, which it claimed are “sufficiently healthy” to absorb the impact.
“This won’t cause any loss to our customers,” Gupta emphasized. “CoinDCX will be bearing the full amount.”
The CEO further urged users not to panic and avoid distress selling of their assets.
INR Withdrawals And Trading Continue Smoothly
Gupta confirmed that INR withdrawals and crypto trading are running without issues and reiterated the company’s commitment to transparency. He promised real-time updates as the team works to understand the full scope of the breach.
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