Coindcx hit by $44 million crypto security breach

Coindcx hit by $44 million crypto security breach

CoinDCX, one of India’s leading cryptocurrency exchanges, on Sunday said it suffered a security breach resulting in the loss of approximately $44 million (around Rs 379 crore).

However, the firm said no customer funds or wallets were affected. “Customer assets remain 100 per cent safe and fully accessible. The incident was quickly contained and isolated. Exposure was limited to internal operational accounts — used only for liquidity provisioning on a partner exchange. Trading and rupee withdrawals are fully operational,” the firm said in a statement.

“Unauthorized access led to $44 million exposure from an operational account. Funds were routed through Solana-Ethereum bridges and consolidated into: 4,443 ETH ($ 15.7 million) 155,830 SOL ($ 27.6 million). Wallet activity is being closely tracked with global analytics partner,” it said.

“While this breach was limited to one internal operational account—and no customer funds were impacted—we take this incident with the utmost seriousness. This is more than an internal matter; it’s a stark reminder of the evolving threats facing the crypto ecosystem, not just in India but globally,” said Sumit Gupta, co-founder & CEO, CoinDCX.

“As the country’s largest exchange, we are committed to set new benchmarks in security and resilience. Our commitment is clear: to protect our customers, strengthen industry-wide defenses, and help build a safe and trusted foundation for India’s digital asset economy,” Gupta said

“We are reaching out to transparently inform you of a security incident that occurred on July 19, 2025, involving one internal CoinDCX operational account used exclusively for liquidity provisioning on a partner exchange,” the firm said.

According to the firm’s website, it has 1.6 crore registered users and 500-plus crypto assets.