Security Breach at CoinDCX

Crypto exchange CoinDCX has confirmed a security breach involving one of its internal accounts, following alerts from blockchain experts about suspicious fund transfers. The company reassures that customer funds remain safe and unaffected.

Details of the Breach

The breach, described as "server-side," targeted an operational account used for managing liquidity. Independent blockchain trackers estimate that around $44 million may have been drained, though CoinDCX has not confirmed the exact amount.

Investigation Underway

Sumit Gupta, co-founder and CEO of CoinDCX, stated that the company has isolated the affected account and is collaborating with external cybersecurity firms to investigate. "No customer funds have been impacted. Your assets remain completely safe and protected in our secure cold wallet infrastructure," Gupta assured on X.

Next Steps

CoinDCX plans to absorb the loss from its own treasury and has announced a bug bounty programme to encourage ethical disclosures of vulnerabilities. The company is also working with a partner exchange to trace and block further fund movements.