The timing of the hack carries an unsettling echo: it occurred exactly one year after another Indian exchange, WazirX, was hacked for $235 million.
Jul 19, 2025, 5:13 p.m.
Indian cryptocurrency exchange CoinDCX has suffered a $44 million security breach on Friday, after hackers managed to compromise an internal account used for liquidity operations with an unnamed partner exchange.
The platform’s co-founder and CEO Sumit Gupta disclosed the exploit on Saturday, describing it as a “sophisticated server breach.” The disclosure of the breach came only after popular blockchain sleuth ZachXBT revealed the breach on his Telegram channel.
While the attack affected an operational wallet, Gupta said that customer assets were untouched and remain securely stored in cold wallets.
"The incident was quickly contained by isolating the affected operational account,” Gupta said in a public statement. “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.”
ZachXBT traced the attacker’s movements, noting that the wallet involved was funded via crypto mixing service Tornado Cash. A portion of the stolen crypto was later bridged from Solana to Ethereum.
The timing of the hack carries an unsettling echo: it occurred exactly one year after another Indian exchange, WazirX, was hacked for $235 million.
CoinDCX says it is working with cybersecurity partners to investigate the breach, and is working with exchange partners to recover freeze and recover assets.
Read more: Indian Crypto Exchange CoinDCX Denies Moving User Funds After WazirX Allegations
Більше для вас
State of the Blockchain 2025
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
Що варто знати:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
Більше для вас
Circle platform promising tokenized gold, silver swaps is 'fake,' company says
The release, distributed on Christmas Eve, used Circle branding and claimed to quote executives, but a Circle spokesperson said it was "not real."
Що варто знати:
- A fake press release claimed that Circle, the issuer of USDC, had launched a new platform called CircleMetals, offering tokenized gold and silver trading.
- The release, distributed on Christmas Eve, used Circle branding and quoted executives, but was later confirmed to be fake by the company.
- The fake platform, which remains live, appears to be a scam, with links to a swap platform and promises of rewards, but there is no evidence to suggest that the tokenized gold and silver tokens actually exist.