India’s leading cryptocurrency exchange, CoinDCX, recently confirmed a security breach involving internal operational accounts, resulting in a loss of approximately $44 million, though customer funds remain secure.
Understanding the Security Incident
CoinDCX announced on a recent Sunday that it had experienced a significant security breach. This incident led to the loss of around $44 million, equivalent to about Rs 379 crore.
The breach, which occurred on July 19, 2025, specifically targeted one of the company’s internal operational accounts. These accounts are used for managing liquidity on a partner exchange, not for direct customer holdings.
Customer Funds Are Unaffected
A crucial point highlighted by CoinDCX is that no customer funds or individual wallets were compromised during the incident. The firm quickly contained and isolated the breach, ensuring customer assets remain 100 percent safe and fully accessible.
Despite the substantial loss, trading activities and rupee withdrawals on the platform are fully operational. This rapid containment was key to protecting its large user base, which includes 1.6 crore registered users.
Tracing the Stolen Assets
The unauthorized access led to the exposure of $44 million from the internal account. Investigations show that the funds were routed through Solana-Ethereum bridges.
The stolen assets were then consolidated into two primary cryptocurrencies: 4,443 ETH, valued at approximately $15.7 million, and 155,830 SOL, worth around $27.6 million. CoinDCX is actively tracking these wallet activities with the help of a global analytics partner.
CoinDCX’s Commitment to Security
Sumit Gupta, co-founder and CEO of CoinDCX, expressed the company’s seriousness regarding the breach. He reiterated that while the incident was limited to an internal account and did not impact customer funds, it serves as a stark reminder of the evolving threats in the global crypto ecosystem.
Gupta emphasized CoinDCX’s commitment to setting new benchmarks in security and resilience. The company aims to protect its customers, strengthen industry-wide defenses, and contribute to building a safe and trusted digital asset economy in India.
- CoinDCX suffered a $44 million security breach affecting an internal operational account.
- No customer funds or wallets were compromised; all customer assets remain safe.
- Stolen funds were converted into Ethereum (ETH) and Solana (SOL).
- CoinDCX is actively tracking the movement of the stolen assets.
- The company reaffirms its dedication to enhancing security measures across the platform.
This incident underscores the ongoing need for robust security protocols in the rapidly expanding cryptocurrency market, even for established players.
