CoinDCX Absorbs $44M Exploit Loss After Sophisticated Server Breach, Assures User Funds Safe

Indian cryptocurrency exchange CoinDCX disclosed a $44 million exploit stemming from a compromised internal liquidity account, emphasizing that customer assets remained untouched. The breach, detected on July 19 at 4 a.m. IST, targeted a partner exchange's provisioning infrastructure through what the company described as a "sophisticated server attack."

All losses will be covered by CoinDCX's treasury, with trading, INR withdrawals, and deposits remaining operational. Web3 wallet services were temporarily paused as a precaution but have since resumed. "Your funds are 100% safe," the exchange asserted, noting collaboration with cybersecurity specialists, blockchain forensics teams, and Indian regulators to trace the stolen assets.

The delayed public disclosure—approximately 17 hours post-incident—allowed for containment measures. A Recovery Bounty Program is planned to incentivize leads on fund recovery.