CoinDCX Suffers $44M Hack, User Funds Remain Protected

Indian crypto exchange CoinDCX has disclosed an operational account breach resulting in the loss of approximately $44 million. The internal account, used for liquidity provisioning, was exploited in what the exchange calls a “sophisticated server breach.” Crucially, customer assets were held in isolated cold wallets and are unaffected by the incident. Following the hack, CoinDCX deployed rapid containment protocols and utilized its treasury reserves to absorb the impact. A bounty of up to $11 million has been offered to recover the stolen funds or identify the perpetrators. The breach, India’s second largest publicly known crypto hack, raises renewed concerns over internal risk controls, third party integrations, and platform transparency. Regulators and users expect accelerated improvements to CoinDCX’s security architecture and audit procedures.