CoinDCX Faces Major Security Breach

BENGALURU: In a startling revelation, CoinDCX has confirmed a significant security breach, with $44 million siphoned from one of its internal operational accounts. This incident marks the second-largest crypto hack at an Indian exchange, raising alarms across the industry.

Recovery Efforts Underway

In response to the breach, CoinDCX has launched a recovery bounty of up to $11 million, aiming to trace the stolen funds and identify the perpetrators. The company assures that customer assets remain unaffected, with the loss being absorbed by its own treasury.

Industry-Wide Scrutiny Intensifies

This breach has reignited scrutiny over operational security within Indian crypto platforms. Following WazirX's 2022 $230 million exploit and previous breaches at platforms like BuyUcoin, the crypto community is calling for enhanced security measures and incident preparedness.

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