On July 18, the Indian centralized cryptocurrency exchange CoinDCX was hacked. According to on-chain investigator ZachXBT, the perpetrator withdrew assets amounting to approximately $44.2 million.
The expert noted that the exchange’s team did not report the attack for about 17 hours. CoinDCX co-founder Sumit Gupta responded to ZachXBT’s Telegram post within minutes, confirming the incident.
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
— Sumit Gupta (CoinDCX) (@smtgpt) July 19, 2025
According to him, a “sophisticated attack” on the server led to the compromise of an internal operational account used solely for liquidity provisioning on a partner exchange. The entrepreneur did not disclose the amount of the loss.
“I confirm that CoinDCX wallets used for storing client assets were not affected and remain completely secure,” Gupta stated.
He emphasized that the team quickly contained the breach, which was limited to a single account. All platform losses are covered by treasury funds. The incident did not affect the regular operations of the exchange, including trading, deposits, and withdrawals.
CoinDCX has engaged cybersecurity experts to investigate the incident and is working with the partner exchange to track the stolen funds for blocking and recovery, Gupta added.
Experts noted that the attack on CoinDCX occurred exactly one year after the hack of the Indian exchange WazirX for ~$235 million. In April 2025, the platform announced a resumption of operations, but this had not occurred at the time of writing.
Earlier reports indicated that in the first half of the year, losses from hacker attacks on crypto projects reached $2.1 billion. A significant contribution to this figure was the February hack of the Bybit exchange for $1.5 billion, first reported by ZachXBT.