₹378 Crore Gone! Major Security Breach Hits India’s Top Crypto Exchange CoinDCX
New Delhi(The Uttam Hindu: One of India’s largest cryptocurrency exchanges, CoinDCX, has confirmed that it was hit by a cyberattack, resulting in a massive loss of around $44 million (approximately ₹378 crore). The exchange revealed that the breach involved an internal operational account, used for liquidity provisioning on a partner exchange.
CoinDCX co-founder Neeraj Khandelwal stated, “Our treasury assets have suffered a loss of approximately $44 million. CoinDCX Treasury will fully bear this loss. Our foremost priority is to safeguard assets. No customer funds or wallets have been affected by this incident.”
The company explained that the siphoned funds were routed through multiple phases before eventually landing in two wallets. The attacker reportedly used the Wormhole Solana-Ethereum bridge and Jupiter, a swap aggregator, to launder the stolen assets. The funds were then moved in batches of 1,000–4,000 SOL tokens.
CoinDCX assured users that it is working with two globally reputed cybersecurity firms to conduct a detailed forensic investigation. The company has also alerted the Indian Computer Emergency Response Team (CERT-In) about the breach. At present, an in-depth investigation is underway to trace the origin of the hack and the exact modus operandi.
Despite the scale of the attack, CoinDCX reiterated that all customer assets remain safe and unaffected, as the breach was limited to a single internal treasury account. The exchange emphasized its commitment to transparency and pledged to strengthen its security architecture to prevent such incidents in the future.