India’s greatest crypto exchange Coesscx Confirmed that one of his internal operational accounts had been compromised in a recent security violation, allowing hackers to withdraw with millions in crypto.
Saturday, the co-founder and CEO of Coindcx, Sumit Gupta, disclosed In a post on x That an internal account “used only for liquidity supply on an exchange of partners” was compromised during hacking. The executive assured that the incident has not affected customer funds and that all of its customer assets remain safe.
Earlier in the day, Crypto Zachxbt’s security researcher reported that around $ 44.2 million was drained from Coindcx chests due to the incident.
“The attacker’s address was funded with 1eth (Ethereum) Tornado Cash and then had part of the Solana stolen funds in Ethereum,” said the researcher on their telegram canal.
Coindcx confirmed the amount of the loss to Techcrunch, declaring that the funds were sent via Solana-Ethereum Bridges and consolidated in 4,443 Ethereum and 155,830 Solana, which currently dormant. The Crypto Exchange also noted that he was working with the IT emergency intervention team of India, the certificate and the exchanges of partners to investigate the issue.
The Indian Crypto Exchange, recorded with the government’s financial intelligence unit, has more than 16 million users and offers access to more than 500 cryptographic assets.
“The incident was quickly contained by insulating the affected operational account,” said Gupta in a post X. “Since our operational accounts are separated from the client’s portfolios, exposure is only limited to this specific account and is entirely absorbed by us – from our own cash reserves.”
Techcrunch event
San Francisco
|
October 27-29, 2025
GUPTA noted that the company was working with the exchange partner to block and recover assets. “I understand that incidents like this can be disturbing-even when customer assets are not affected,” he said.
The exchange too Launched a “Recovery Bounty” program Monday to grant up to 25% of all funds recovered from all those who can help trace and recover the stolen crypto.
“More than the recovery of stolen funds, which is important for us is to identify and catch the attackers, because such things should not happen again, not with us, not with anyone in the industry,” said Gupta.
The news of the violation has occurred almost exactly a year since the massive violation of the Indian giant of the exchange of Crypto Wazirx, which led to a loss of $ 230 million – almost half of its reserves. The scholarship interrupted exchanges after loss. It is not clear, however, if there are links between the two incidents.
