CoinDCX Hacked: ₹368 Crore Lost in Major Crypto Security Breach, Customer Funds Safe

On Saturday, July 19, 2025, popular Indian cryptocurrency exchange CoinDCX experienced a serious hack, leading to a loss of nearly ₹368 crore (around $44.2 million). This was caused by a cyberattack on one of the company’s internal accounts used for liquidity management on a partner platform. The attack was described as a “sophisticated server breach”—meaning it was planned and carried out using advanced hacking methods.

The good news is that no customer wallets or user funds were touched. According to CoinDCX, only internal company accounts were affected. The exchange confirmed that all trading services, withdrawals, and deposits stayed active and safe during the incident. Funds stored in cold wallets (offline storage) were not accessed or damaged.

To manage the situation, CoinDCX immediately isolated the affected account, stopping the hackers from stealing more money. The company also temporarily paused Web3 trading as a safety measure, but core services like spot trading and INR withdrawals continued to run without any trouble. All the lost money will be covered using the company’s own reserves, meaning investors won’t lose anything.

CoinDCX is now working with top cybersecurity firms to do a full investigation. They have reported the issue to CERT-In, India’s cyber security agency. A forensic review is underway to understand exactly how the attack happened. In response, the company plans to improve its server safety, launch a bug bounty program (where people can report security weaknesses for a reward), and set up stronger safety protocols to prevent future hacks.

The company’s co-founder and CEO, Sumit Gupta, addressed users on social media, asking them to stay calm. His message was clear:

“Don’t panic or sell your assets. Let the market settle. Stay calm and stay confident.”

This incident is one of the largest crypto hacks in India, especially after WazirX suffered a huge $230 million breach last year. The CoinDCX hack shows how centralized crypto platforms remain targets for cybercrime. It also reminds us that stronger regulations and better technology are urgently needed to protect India’s growing crypto market.