The Indian cryptocurrency exchange CoinDCX has fallen victim to a large-scale hacking attack, resulting in the theft of approximately $44.2 million in stablecoins from one of its operational wallets. According to analysts and cybersecurity specialists, part of the stolen funds ($15.8 million) was transferred by the attackers from the Solana network to Ethereum via an interchain bridge. The attack was financed using one ETH obtained from the anonymization service Tornado Cash.
This is reported by Business • Media
CoinDCX’s Response and User Security
CoinDCX CEO Sumit Gupta confirmed the hack and provided clarification regarding the situation. He stated that only one account, which was used for liquidity provision on a partner platform, was affected.
“User assets were not harmed and are stored in cold wallets; withdrawals in Indian rupees are functioning as usual; losses will be covered from CoinDCX’s reserves.”
The exchange’s team promptly isolated the compromised account and began collaborating with cybersecurity experts to investigate the incident and enhance infrastructure security. Additionally, CoinDCX announced the launch of a bug bounty program and promised to fully compensate all losses while ensuring the security of its systems.
Cyber Threats to Cryptocurrency Exchanges Remain Relevant
The incident with CoinDCX has become one of the largest recent events among Indian cryptocurrency exchanges. It is worth noting that on July 16, 2025, the BigONE exchange also reported losses of $27 million due to an attack that allowed the attackers to access the project’s hot wallet. Such cases underscore the importance of continuously improving cybersecurity measures and access control to digital assets.