Bitcoin Exchange CoinDCX Lost $44 Million Due to Hack

On July 18, Indian centralized crypto exchange CoinDCX was hacked.

According to data from onchain sleuth ZachXBT, the attacker withdrew assets worth ~$44.2 million.

The expert noted that the exchange's team did not report the attack for about 17 hours.

CoinDCX co-founder Sumit Gupta responded to ZachXBT's Telegram post a few minutes later, confirming the incident.

According to him, as a result of a ”sophisticated attack” on the server, the hacker compromised the platform's internal operating account, which is used exclusively for providing liquidity on the partner exchange.

The entrepreneur did not announce the amount of the damage.

”I confirm that CoinDCX wallets storing customer assets were unaffected and remain completely safe,” Gupta said.

He emphasized that the team quickly localized the hack, which was limited to a single account.

All platform losses are covered by treasury funds.

The incident did not affect the exchange's normal operations, including trading, deposits, and withdrawals.

CoinDCX has enlisted cybersecurity experts to investigate the incident and is working with its partner exchange to track the stolen funds to block and recover them, Gupta added.

Experts noted that the attack on CoinDCX came exactly a year after India's WazirX exchange was hacked for ~$235 million.

In April 2025, the platform announced a resumption of operations, but at the time of writing this has not happened.

Recall that in the first half of the year, losses of crypto projects from attacks by hackers reached $2.1 billion.

The main contribution to the total figure was the February hack of the Bybit exchange for $1.5 billion, which was first signaled by ZachXBT..

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