CoinDCX, a leading cryptocurrency exchange, reported a significant breach of its internal operational account resulting in a loss of $44.2 million. Nevertheless, the company emphasizes the safety of its customers' funds.
Breach and Its Consequences
CoinDCX confirmed a breach of its internal operational account due to a server issue, resulting in approximately $44.2 million lost from its treasury. CEO Sumit Gupta stated that customer funds remain secure in unaffected wallets. "Assets are currently being frozen," he added.
Recovery and Protection Measures
The company is actively working on recovery efforts. Plans include launching a bug bounty program, reflecting CoinDCX's commitment to strengthening its security. "Our internal security and operations teams have been working through the day to investigate the matter and patch any vulnerabilities," Gupta said.
Market and Trust in Security
The incident raised concerns among analysts as CoinDCX reported the breach occurred between July 18 and July 20, 2025. This event highlights vulnerabilities within the crypto exchange sector. While USDC remains stable at around $1.00, such incidents could impact investor trust in the market.
CoinDCX continues to take measures to ensure the security of its platform and maintain customer trust. The incident underscores the importance of raising security standards in the crypto industry.
