India’s leading cryptocurrency exchange, CoinDCX, has suffered a massive cyberattack resulting in a loss exceeding $44 million.
The breach specifically targeted an internal operational account used by the company for liquidity operations on a partner exchange. In an official statement, the company clarified that no customer funds were compromised, and the affected account was not linked to any user wallets.
According to Urdu News, CoinDCX co-founder Sumit Gupta revealed on social media that the incident involved a “highly sophisticated server-side attack.” He assured stakeholders that the entire financial loss would be covered by the company’s treasury, reaffirming that CoinDCX remains financially strong and stable.
As a precaution, the company temporarily suspended its Web3 trading platform, which has now been restored after implementing security enhancements.
This cyberattack highlights the growing risks facing the crypto sector in India, as digital assets become more mainstream yet remain vulnerable to sophisticated hacking attempts. The incident has raised fresh concerns about cybersecurity infrastructure in India’s emerging financial technology landscape.
