TechFlow, July 20 — According to Sumit Gupta, CEO of CoinDCX, an internal operational account used for providing liquidity across partner exchanges was compromised due to a sophisticated server attack. Gupta emphasized that user funds are completely safe and the wallets CoinDCX uses to store customer assets were unaffected.
The affected operational account has been quickly isolated. Since operational accounts are separate from customer wallets, the loss is limited to this specific account and will be fully covered by CoinDCX's treasury reserves. All trading activities and Indian Rupee withdrawal functions remain operational.
CoinDCX’s internal security and operations teams are investigating the incident with leading cybersecurity partners, patching vulnerabilities, and tracking fund flows. The company is collaborating with exchange partners to block and recover assets and plans to launch a bug bounty program.
Earlier reports indicated that on-chain investigator ZachXBT disclosed suspected hacking of Indian exchange CoinDCX, resulting in losses of approximately $44.2 million.
