CoinDCX got hacked! $44.2M Drained?

[Bitcoin Smith]

The attacker address was funded with 1 ETH from Tornado Cash and later bridged a portion of the stolen funds from Solana to Ethereum.

H/t Cyvers (https://x.com/cyversalerts) for flagging the withdrawals to me. The affected CoinDCX hot wallet is not publicly tagged or in current proof of reserves so I had to manually attribute it via reviewing counterparties.

Theft address
6peRRbTz28xofaJPJzEkxnpcpR5xhYsQcmJHQFdP22n (https://solscan.io/account/6peRRbTz28xofaJPJzEkxnpcpR5xhYsQcmJHQFdP22n)
3btch8cSVp3Uh2SiY9DeiRNYUBmFiBNHZQzDyecJs7Gu (https://solscan.io/account/3btch8cSVp3Uh2SiY9DeiRNYUBmFiBNHZQzDyecJs7Gu)
0xEF0c5b9E0E9643937D75C229648158584A8CD8D2 (https://etherscan.io/address/0xef0c5b9e0e9643937d75c229648158584a8cd8d2)

No official report from the exchange CoinDCX but this is posted on ZachXBT's official telegram channel and people created threads that their withdrawals are pending so it can't be a coincidence. Another point to note Wazirx got hacked in July 18th 2024 (biggest Indian exchange at that time) and exactly one year later CoinDCX hacked on July 18th 2025 if we just add the 17 hours before into the calculations so it's not just a random attack, someone is trying to make a point?

#Not Your Keys Not Your Cryptos

[JSRAW]

Recieved email  last night, first koinex around 2018 ish, then Wazirx and now this. It could happen with anybody but ab toh pattern sa ban Raha hai saare desi exchange ka.

More ammunition for government and babus to tighten the screws on individuals.

I want to personally address a security incident that occurred earlier today involving one of our internal operational accounts, used solely for liquidity provisioning on a partner exchange.

What’s most important first - your funds are completely safe.
We want to assure you:

No customer funds have been impacted.
All your funds are stored in secured cold wallets.
All services on CoinDCX remain fully operational.
We’ve always built CoinDCX on a foundation of security and transparency. That’s why I’ve shared a detailed message with the community, which you can watch here: [Watch Here]

As an added precaution, we’ve also placed Web3 Mode under temporary maintenance while we assess and reinforce every layer of our infrastructure.

We’re working closely with cybersecurity experts, ecosystem partners and will continue to share verified updates via our official channels.

Thank you for your continued trust.

Warm regards,
Sumit Gupta
Co-founder, CoinDCX

[IIrik11]

pata ni hack hote hain ya inside job hota hai

aur is 44.2m kitna unka apna tha aur kitna public ka?

ye kaise pata chalega?

and i am sure somewhere in their tos it must be written

that if something like this happesn they can't be blamed

toh gayi bhains paani mein..

of investors of that platform ie

[pawanjain]

Recieved email  last night, first koinex around 2018 ish, then Wazirx and now this. It could happen with anybody but ab toh pattern sa ban Raha hai saare desi exchange ka.

More ammunition for government and babus to tighten the screws on individuals.

No customer funds have been impacted.
All your funds are stored in secured cold wallets.
All services on CoinDCX remain fully operational.
We’ve always built CoinDCX on a foundation of security and transparency. That’s why I’ve shared a detailed message with the community, which you can watch here: [Watch Here]

Well that is good to hear since it would have been loss for people if they would have lost their funds.
Good that CoinDCX didn't suffer a fate like WazirX because people who had their funds in WazirX are still not able to access their funds.
One of my friends has his money stuck in WazirX wallet till date. Is there anyone here who is using CoinDCX ?

[Bitcoin Smith]

Recieved email  last night, first koinex around 2018 ish, then Wazirx and now this. It could happen with anybody but ab toh pattern sa ban Raha hai saare desi exchange ka.

More ammunition for government and babus to tighten the screws on individuals.

I see this is an attempt to cover up to situation, we don't know the real extent and the CEO of coindcx accepted the hack only after it's exposed by ZachXBT. They said operation is not affected but users complained they have trouble withdrawing the funds at the time of this news and few hours before that too.

and i am sure somewhere in their tos it must be written

that if something like this happesn they can't be blamed

It's universally unwritten rule for exchanges, when they are hacked the user funds will be lost but on few occasions they got back such as with FTX and Binance able to cover the loss with their SAFU funds.

Well that is good to hear since it would have been loss for people if they would have lost their funds.
Good that CoinDCX didn't suffer a fate like WazirX because people who had their funds in WazirX are still not able to access their funds.
One of my friends has his money stuck in WazirX wallet till date. Is there anyone here who is using CoinDCX ?

I just pray that they are telling the truth. I don't think I ever used it but I completed KYC once but still the platform looked glitchy and they asked for something more other than Aadhar so I just left it as it is.

[libert19]

... Is there anyone here who is using CoinDCX ?

I did use them a few times to convert crypto to inr, experience was good but after a while they blocked me from depositing crypto altogether citing my account didn't qualify for crypto deposit, lol.

BTW, they have posted 'incident report' which is worth to read: https://coindcx.com/blog/announcements/incident-report-july-19-2025/

On withdrawals, they seems to be delayed.

[LucyFurr]

I guess we can't really trust any Indian exchanges anymore, with the growing adoption the exchange should focus more on improving their security for the KYC data as well as the funds but it looks like they are trying to not being act transparent and letting the users know what's happening.

Yes, people should withdraw whatever balance left in it even though they claim users funds are safe.

[JSRAW]

Recieved email  last night, first koinex around 2018 ish, then Wazirx and now this. It could happen with anybody but ab toh pattern sa ban Raha hai saare desi exchange ka.

More ammunition for government and babus to tighten the screws on individuals.

I see this is an attempt to cover up to situation, we don't know the real extent and the CEO of coindcx accepted the hack only after it's exposed by ZachXBT. They said operation is not affected but users complained they have trouble withdrawing the funds at the time of this news and few hours before that too.

Saw this announcement on coindcx. Let's see kya bakchodi hoti hai. At least they are responsive, Wazirx ke time par toh Shetty anna ko toh saanp hi shung gaya tha.

I hope this doesn't turn into something ugly, mansoon session start hua parliament mein. Kahin lene ke dene na pad jaye.

[Cointikka]

Fuck! Got a mail from them because I had a good amount kept aside on their platform for trading purposes. It is good luck for me, as I had already moved every single penny from them when they started holding cash and crypto in the guise that they do not want to repeat the WazirX incident. I am sure it is again an insider job, or the founders are planning to shift to Dubai.

BTW, it is good to be back again. I have not been active here as I have been occupied with my YouTube Channels and Websites. I was active here a long time back, I guess.

[Bitcoin Smith]

Fuck! Got a mail from them because I had a good amount kept aside on their platform for trading purposes. It is good luck for me, as I had already moved every single penny from them when they started holding cash and crypto in the guise that they do not want to repeat the WazirX incident. I am sure it is again an insider job, or the founders are planning to shift to Dubai.

You did that right things, yes it could be an insider job or exit plan but we never know until anything is proven.

BTW, it is good to be back again. I have not been active here as I have been occupied with my YouTube Channels and Websites. I was active here a long time back, I guess.

Welcome back again! Hope to see you more in action.

Indian crypto YouTubers or even most of the YouTubers across the globe just pump shitcoins after getting paid for it one way or another and there's very few who actually teaches about cryptocurrency to people.

Reddit is nothing but bank freeze, bank freeze, help me. Here you got more things to discuss apart from crypto, you can engage in political, economical discussion and last but not can enjoy the cricket action too.

[LucyFurr]

Another update:

CoinDCX announces white hat recovery bounty after $44M hack

In an effort to recover the stolen funds, CoinDCX CEO Sumit Gupta announced a new recovery bounty program that offers white hat hackers up to 25% of any recovered funds they can help trace and retrieve.

“The exposure was from our own reserves, and we have already absorbed it through our corporate treasury,” said Gupta in a Monday X post,

[avikz]

Is any CoinDCX user here?

Can anyone please confirm that the user funds are safe? That's what they are claiming from the beginning. They are claiming that one of their internal company account got breached but no breach happened on the user accounts.

Need a confirmation on this claim. Can any insider confirm this?

[IIrik11]

In an effort to recover the stolen funds, CoinDCX CEO Sumit Gupta announced a new recovery bounty program that offers white hat hackers up to 25% of any recovered funds they can help trace and retrieve.

help me win the jackpot n i'll give u 25% of the winnings 



i.e. our money got stolen but urs is safe. so keep depositing!!

sure, opening account there very soon.. 

[TheUltraElite]

Insiders every time are the ones to blame.

Sadly the exchange situation in India is such that one person will always try to exit via this method.

2024 - Wazirx
2025 - CoinDCX

It seems Indian exchanges are getting targeted now, which implies there is an influx of users in exchanges as well and funds getting piled up here.

Dont store coins on exchanges, none of them are ever safe, wake up one morning and you see your coins in limbo - this should not happen to any of us.

[Cointikka]

Insiders every time are the ones to blame.

Sadly the exchange situation in India is such that one person will always try to exit via this method.

2024 - Wazirx
2025 - CoinDCX

It seems Indian exchanges are getting targeted now, which implies there is an influx of users in exchanges as well and funds getting piled up here.

Dont store coins on exchanges, none of them are ever safe, wake up one morning and you see your coins in limbo - this should not happen to any of us.

One more exchanges look good from the outside. I am talking about Giottus Exchange. It is not known, as it was never promoted by the owners like the named Exchanges, who have promoted their exchanges through advertisement. When WazirX was hacked, there were stories from major news outlets, as one of the top 10 exchanges from India. 

[LucyFurr]

It seems Indian exchanges are getting targeted now, which implies there is an influx of users in exchanges as well and funds getting piled up here.

Dont store coins on exchanges, none of them are ever safe, wake up one morning and you see your coins in limbo - this should not happen to any of us.

Atleast with international exchanges like binance we have chance to withdraw the crypto to our wallet despite the huge taxation but with Indian exchanges we can't even withdraw at all so I don't see any reason to use them unless the patriotism forces the users to choose Indian over others but it's not a convincing reason in my opinion, if we buy crypto then we must be able to hold it in our custody and these exchanges don't let us to do.

[JSRAW]

Is any CoinDCX user here?

Can anyone please confirm that the user funds are safe? That's what they are claiming from the beginning. They are claiming that one of their internal company account got breached but no breach happened on the user accounts.

Need a confirmation on this claim. Can any insider confirm this?

Can't speak for everyone but i dodged a bullet. I had few open orders in INR and it's safe. I had withdrawal issue with Usdt ( exchange to exchange), took almost a night.

INR withdrawal are back to normal as well. Just checked and it went smoothly with no fuss.

[avikz]

Is any CoinDCX user here?

Can anyone please confirm that the user funds are safe? That's what they are claiming from the beginning. They are claiming that one of their internal company account got breached but no breach happened on the user accounts.

Need a confirmation on this claim. Can any insider confirm this?

Can't speak for everyone but i dodged a bullet. I had few open orders in INR and it's safe. I had withdrawal issue with Usdt ( exchange to exchange), took almost a night.

INR withdrawal are back to normal as well. Just checked and it went smoothly with no fuss.

It's a good sign! So likely their claim is true.

Otherwise, it's normal for the exchanges to deny withdrawal after such a massive hack. If you were able to function almost normally with their withdrawals, it's positive.

Hope this one will not go down to drain like WazirX. But honestly, do not keep your funds within an exchange wallet. It's super risky!

[JSRAW]

^^ I am not trader so i don't keep corn and crypto on exchange but had to keep some cash as backup, in case of flash sale or some doomsday scenario.

Some alts parked on binance due to staking and tbh too lazy to move em but it's not a big amount so can afford to lose it, if something goes south.

[libert19]

It seems Indian exchanges are getting targeted now, which implies there is an influx of users in exchanges as well and funds getting piled up here.

Dont store coins on exchanges, none of them are ever safe, wake up one morning and you see your coins in limbo - this should not happen to any of us.

Atleast with international exchanges like binance we have chance to withdraw the crypto to our wallet despite the huge taxation but with Indian exchanges we can't even withdraw at all so I don't see any reason to use them unless the patriotism forces the users to choose Indian over others but it's not a convincing reason in my opinion, if we buy crypto then we must be able to hold it in our custody and these exchanges don't let us to do.

Binance [1], Kucoin [2], Bybit [3] all these current prominent exchanges have been hacked in past, it's wise to not trust any centralized exchange with your money, whether national or international, there could be time where they won't be reimbursing.

I do use Indian exchanges to convert crypto to inr (money stays there momentarily) as I don't want to go through hassle of p2p (I have had bad experience with p2p dealings in past, which has left sour taste).


[1] https://www.binance.com/en/support/announcement/detail/360028031711
[2] https://www.kucoin.com/announcement/en-kucoin-security-incident-update
[3] https://learn.bybit.com/en/this-week-in-bybit/bybit-security-incident-timeline