Rs 1900000000000 lost in a year due to…., loss suffered by many including…
The total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves, the company said in a First Incident Report released on Sunday.
According to the report, on July 19, at 4 AM IST, CoinDCX security systems detected an incident involving unauthorised access to one of its accounts on the partner exchange, leading to a financial exposure of about USD 44 million.
The incident once again puts the spotlight on mounting security threats in the highly volatile world of cryptocurrencies. Last year, crypto exchange WazirX faced a hack in India, leading to the loss of more than USD 230 million, and marking one of the biggest such heists in India. The theft had prompted a thorough examination of safety measures and eroded sentiments. CoinDCX On Attack
CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal took to the social media platform X to address the situation, confirming that the attack was the result of a sophisticated server breach, targeting an internal wallet, not the ones holding customer assets.
The incident was first flagged by blockchain investigator ZachXBT, following which the exchange made the disclosure public.
'Today, one of our internal operational accounts — used only for liquidity provisioning on a partner exchange — was compromised due to a sophisticated server breach. I confirm that the CoinDCX wallets used to store customer assets are not impacted and are completely safe. This won't cause any loss to our customers. CoinDCX will be bearing the full amount,' Gupta said.
'The total amount lost was USD 44Mn out of our treasury assets. Coindcx Treasury will be bearing these losses,' Khandelwal wrote.
Affected infrastructure has been completely isolated, and CoinDCX operations continue to run normally, the company said. Risk In Crypto Currency Investment
Crypto thefts in 2025 had already crossed USD 2.17 billion before last week's USD 44 million CoinDCX hack, underlining relentless cyber threat escalation in the digital currency world, according to the latest data.
Blockchain analytics platform Chainalysis' 2025 crypto crime mid-year update says that over USD 2.17 billion was stolen from cryptocurrency services so far in 2025, and 'this year is more devastating than the entirety of 2024'.
By the end of June 2025, 17 per cent more value had been stolen year-to-date (YTD) than in 2022, previously the worst year on record.
The USD 1.5 billion hack of ByBit, the largest single hack in crypto history, accounts for the majority of service losses.
So far in 2025, significant concentrations of stolen fund victims have emerged in the US, Germany, Russia, Canada, Japan, Indonesia, and South Korea, it said.
'Regionally, Eastern Europe, MENA, and CSAO (Central and Southern Asia and Oceania) saw the most rapid H1 2024 to H1 2025 growth in victim totals,' it said.
(With Inputs From PTI)
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