Indian crypto exchange CoinDCX has fallen victim to a security breach involving an internal wallet, with losses estimated at around $44.2 million, according to blockchain investigator ZachXBT and security firm Cyvers.
The exploit was first flagged after on-chain data revealed suspicious activity involving Tornado Cash. The attacker reportedly received 1 ETH via the crypto mixer before executing a series of cross-chain transfers, moving funds from Solana to Ethereum—a technique often used for laundering.
CoinDCX CEO Sumit Gupta confirmed the incident, clarifying that the compromised wallet was used for liquidity management on a partner platform and did not hold customer assets. He assured users that all funds remain safe.
Cyvers Alerts, which initially detected the anomaly, noted that the stolen funds were quickly dispersed across multiple wallets and protocols, complicating the traceability.
The affected wallet was not listed in CoinDCX’s proof-of-reserve reports, further obscuring early detection.
The platform has since frozen impacted systems and launched a full investigation with third-party security experts.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/crypto-exchange-coindcx-hit-by-major-exploit-ceo-responds/