In the tumultuous domain of cryptocurrency, where fortunes dance like dandelions in the wind, CoinDCX—a titan among Indian crypto exchanges—has found itself in a rather precarious predicament. A staggering $44.2 million has vanished into the ether, indeed not the most uplifting news as such calamities often occur under the veil of night. It’s only been about 17 hours since the unfortunate incident; time flies when you’re losing all your cash. 😅
Word on the street is that this audacious assailant began their escapade with a mere 1 ETH, snatched from Tornado Cash, akin to a magician pulling a rabbit from a hat—except the rabbit was $44.2 million, and it wasn’t coming back! The funds swiftly darted from the depths of Solana back into the comforting bosom of Ethereum, a digital chase worthy of a screenplay.
Greetings, dear souls,
At @CoinDCX, we’ve held steadfast to the noble pursuit of transparency with you all. So, brace yourselves for this latest saga:
Today, an internal operational account (which had as much freedom as a hermit crab in a sandcastle) was breached due to a… oh, never mind.
— Sumit Gupta (CoinDCX) (@smtgpt) July 19, 2025
Sumit Gupta, the sage co-founder and CEO of CoinDCX, took to X to disclose the misfortune that befell the platform, outlining how one of their operational accounts—used solely for liquidity, thriving in a partner exchange—was compromised. He artfully reassured the bewildered populace that customer funds remained untouched, safe in the fortresses of cold wallets. Phew! What a relief, right? 😇
As fate would have it, the cause was a server compromise, swiftly quelled by isolating the beleaguered internal account. The exciting part? Not a single customer wallet fled the scene, the fallout was carefully contained, like a cataclysmic sneeze muffled by a well-placed tissue. Trading and INR withdrawals, thankfully, continue to waltz along normally while losses are graciously absorbed by the CoinDCX treasury. How very noble! 🏦
Sumit has assured us their team is engaged in dueling with cybersecurity experts to grapple with this predicament, recover what’s rightfully theirs, and initiate a bug bounty program. A sincere endeavor to elevate their fortress of security, all while maintaining an unwavering commitment to transparency—something as precious as the last cookie in the jar during a midnight snack raid. 🍪
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2025-07-19 19:27