Join us – For Quick Banking updatesMumbai, July 22, 2025 – India’s leading cryptocurrency exchange, CoinDCX, has fallen victim to a massive cyberattack, resulting in the theft of digital assets worth approximately ₹378 crore ($44 million). The breach, which occurred on July 19, targeted an internal operational account used for liquidity management on a partner exchange—not customer wallets.
In a reassuring move, CoinDCX confirmed that no user funds were impacted, and all trading and withdrawal services remain fully operational. The stolen funds included over 1.5 lakh SOL (Solana) and 4,443 ETH (Ethereum) coins. The attackers reportedly used sophisticated blockchain tools like Wormhole, Jupiter, and Tornado Cash to transfer and hide the funds across multiple networks.
Following the breach, CoinDCX immediately isolated the affected systems, launched an internal investigation, and began collaborating with global cybersecurity firms, blockchain analytics experts, and the Indian cybercrime agency CERT-In. The company has announced a $11 million (₹91 crore) white-hat bounty for anyone who can help recover the funds or identify the perpetrators.
Cybersecurity experts suspect possible links to the notorious Lazarus Group from North Korea, known for several high-profile crypto thefts in the past.
“Our user funds are completely safe and unaffected. The loss will be absorbed by the company’s own treasury. Our priority remains full transparency, platform stability, and customer trust,” CoinDCX stated in its official release.
This incident marks one of India’s largest crypto hacks, following the WazirX breach in 2024, and has reignited concerns about security measures in the digital asset ecosystem. Industry observers are calling for tighter regulations and stronger defense mechanisms across all crypto platforms.
