CoinDCX

Documented events with consequences still open. Each entry carries a source and a date.

1. Jul 19, 2025 Hack / funds theft Severe $44M ● open

   Operational liquidity account drained of about 44 million dollars: customer wallets were not touched and the loss was absorbed by the company from its own reserves

   On 19 July 2025 CoinDCX, India's largest exchange, had an internal operational account compromised. The news did not break from the company first: on-chain investigator ZachXBT flagged it, and official confirmation came the next day. The facts, as described by CEO Sumit Gupta: the account hit was "used only for liquidity provisioning on a partner exchange" and "the incident was quickly contained by isolating the affected operational account". The part that matters for anyone keeping money there comes next: "since our operational accounts are segregated from customer wallets, the exposure is only limited to this specific account and is being fully absorbed by us — from our own treasury reserves". Customer assets stayed in cold wallets and were not touched: no user lost money, and the company publicly reaffirmed in August 2025 that the loss remained its own. The figure. Sources range between 43.4 and 44.2 million dollars depending on when the assets were valued; it is recorded here as "about 44 million". The money was routed through bridges between Solana and Ethereum, with the attacker's wallet funded at the outset via Tornado Cash: the classic sequence of someone who has already planned the laundering. How they got in — and this is the instructive part. According to Bengaluru police, the attackers did not force the infrastructure: they reached an employee with a fake freelance job offer, persuaded him to install a malicious file on his work laptop, and then used those credentials to enter internal systems and order the transfers. An employee was detained in late July 2025 as part of the investigation: he denied knowing participation. We do not name him, because it is an accusation and not a conviction, and because the useful fact for a reader is not a person's name but the mechanism: the most effective entry point against an exchange, in 2025 as today, is a person written to with the offer of a job. Where the funds are. They were not recovered. According to public reconstructions the haul was consolidated into roughly 4,443 ETH and 155,830 SOL and has sat still since. CoinDCX opened a bounty programme — up to 25% of whatever was recovered, capped at around 11 million dollars, open to outside researchers and analysts — and reported the case to CERT-In, India's computer emergency response team. No official conclusion of that investigation appears to have been published. How to read this entry's status: for users the chapter is closed and left no consequences, because the company paid for the loss. For the fact itself it is not: the funds have not come back, the bounty is still open and there is no finding by an authority. That is why the entry stays open but is not flagged as "ongoing": nothing is happening right now.

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verified on Sep 26, 2026

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