BREAKING: CoinDCX CEO Admits $44M Internal Wallet Breach—Crypto Security Under Fire Again

Crypto exchange CoinDCX joins the not-so-exclusive '$100M+ Hack Club' after attackers siphoned funds from internal wallets. The CEO's confirmation puts the total haul at a cool $44 million—enough to make even a Wall Street bonus blush.

How'd they pull it off? Details are scarce, but insider threats or compromised keys seem likely. The breach follows a familiar script: centralized point of failure meets opportunistic attacker.

Security theater continues. Despite 'enterprise-grade' promises, exchanges keep proving that nine-figure treasuries need better than hot wallet storage. Meanwhile, decentralized alternatives quietly nod while stacking sats.

Silver lining? At least it wasn't user funds this time—just the company's own crypto piggy bank. A $44M reminder that in crypto, your keys aren't just your coins... they're everyone's liability.

CoinDCX Hack traced back to Tornado Cash funding

ZachXBT reported the incident today stating that an attacker address received, then went on to bridge funds from. 

The FLOW of assets suggests a coordinated cross-chain laundering strategy.

Meanwhile, on-chain data confirms the fund movement across multiple addresses and protocols. The compromised wallet was not part of CoinDCX’s published proof-of-reserve reports, requiring manual attribution.

CoinDCX Confirms Breach, Says User Funds Are Safe

CoinDCX Co-founder and CEOacknowledged the incident hours after ZachXBT’s post. He clarified that the breach involvedon a, not a user-facing wallet.

Hi everyone,

At @CoinDCX, we have always believed in being transparent with our community, hence I am sharing this with you directly.

Today, one of our internal operational accounts – used only for liquidity provisioning on a partner exchange – was compromised due to a… pic.twitter.com/L1kZhjKAxQ

According to the statement, the platform is investigating the server breach that led to the compromise. It has since frozen the affected internal systems and is working with security experts to contain the incident.

The breach was initially flagged by Cyvers Alerts, a blockchain threat intelligence firm that detected the suspicious withdrawals from CoinDCX’s hot wallet. The funds were quickly routed through multiple wallets, making tracing complex.

This is a developing story.