CoinDCX Hack Results in $44.2M Theft
- CoinDCX’s operational wallet lost $44.2M in a hack.
- Customer funds were unaffected.
- Investigation connected to potential Lazarus Group.
On July 19, 2025, India’s crypto exchange CoinDCX suffered a hack, resulting in a $44.2 million loss from an internal wallet, sparing customer funds.
This incident raises concerns over exchange security, emphasizes the vulnerability of operational wallets, and highlights the ongoing risk from sophisticated hacking groups like North Korea’s Lazarus Group.
CoinDCX’s internal operational wallet was hacked on July 19, 2025, resulting in the theft of $44.2 million, while customer funds were unaffected.
The hack highlights vulnerabilities in crypto exchanges’ operational accounts, drawing immediate attention from market watchers and security experts.
Theft of $44.2M Tied to Operational Wallet
The hack targeted CoinDCX’s operational wallet used for liquidity provisioning on a partner exchange. It resulted in a loss of $44.2 million, linked to the Lazarus Group.
CEO Sumit Gupta confirmed that customer assets are secure. The breach emphasized the importance of robust security in protecting internal operational accounts. In an official statement, Gupta asserted, “One of our internal operational accounts used for liquidity was compromised. Customer assets are safe, and our security architecture protected all user funds.”
Community Concerns and $11M Recovery Bounty
The hack caused widespread concern in the crypto community, although customer funds were unaffected. Investigations focus on tracing stolen assets’ movements.
CoinDCX announced an $11M Recovery Bounty, emphasizing its commitment to enhancing security measures and reinforcing user trust amid this challenge.
Similarities with Past Hacks by Lazarus Group
Past hacks, like the Bybit incident, show a pattern of vulnerabilities in operational accounts. Experts note similarities in tactics employed by the Lazarus Group.
Based on historical trends, attackers may attempt to launder stolen funds via mixers, highlighting the ongoing risks and necessitating stronger crypto security frameworks.
| Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor. |
