A significant security incident has occurred in the cryptocurrency world as the Indian exchange CoinDCX was targeted by a cyberattack, resulting in $44.2 million in losses.
Details of the Attack
The attack on CoinDCX was reported by blockchain analyst ZachXBT, who stated that the attacker's address was funded with 1 ETH through Tornado Cash. Some of the stolen assets were transferred from the Solana network to the Ethereum network. The first signs of the attack were detected by the blockchain security platform Cyvers. It was reported that the hot wallet used by the attacker was not publicly tagged.
CEO's Statement on the Incident
CoinDCX CEO Sumit Gupta confirmed the incident in a post on his official X (formerly Twitter) account. He explained that an internal operational account used solely for providing liquidity at a partner exchange was compromised in a complex server breach. Gupta assured that the wallets holding customer funds were completely secure and unaffected.
Consequences of the Incident
According to Gupta, the attack was quickly detected and isolated. Operational accounts, which were kept entirely separate from customer funds, were affected. The losses were covered by CoinDCX's own treasury.
The incident involving CoinDCX highlights the need for increased security measures in the cryptocurrency sector. Despite the stolen funds, customer assets remained unaffected.
