Coindcx, one of the biggest crypto exchanges in India, reportedly lost around $ 44.2 million in alleged hacking that occurred about 17 hours ago, according to blockchain investigators Zachxbt. The attacker is believed to have begun with only 1 ETH from the cash tornado and then moved a portion of the stolen funds from Solana to Ethereum.
Users note that Coindcx has deleted several trading couples, canceled spot orders, and their web3 wallet also does not work, leaving them with many questions.
CEO confirms security violations, user assets remain safe
Sumit Gupta, Co-Founder and CEO Coindcx, were distributed in X recently post that the platform experiences a security violation that affects one of its internal operational accounts used for liquidity in partner exchanges. He assured users that no customer funds were affected, and all user assets remain safe in cold wallets.
Web3 down, withdrawing INR permanent operational
This problem is caused by a server compromise, but quickly contained by isolating an affected internal account. Because this account is separated from the customer’s wallet, the impact is limited. He also shared that the withdrawal of trade and INR continued to function normally, and the loss was fully absorbed by the Coindcx Treasury itself.
Sumit said their team worked with cybersecurity experts to fix this problem, restore funds, and launch a Karunia Bug program to improve security. He promised to keep the community updated and emphasize the importance of remaining transparent during this incident.
Coindcx Web3 temporarily as a precautionary action, but user funds remain safe.
While some praised the team for being transparent and improving clear communication, others recorded delayed responses when the official statement came only after Zachxbt brought the incident.
Comments (No)