Crypto Heist: About Rs 380 Crore Stolen After Crypto Platform CoinDCX Hit By Cyberattack
Sumit Gupta, CEO, CoinDCX confirmed that the CoinDCX wallets used to store customer assets are not impacted and are completely safe.
(Source: Representative image/ Freepik)
Indian crypto platform CoinDCX suffered a cyberattack on Saturday, resulting in around Rs 380 crore being stolen from the company’s account. However, no customer funds were affected.
Sumit Gupta, CEO of CoinDCX, shared the update on his X account. “At CoinDCX, we have always believed in being transparent with our community, hence I am sharing this with you directly,” he wrote.
“Today, one of our internal operational accounts — used solely for liquidity provisioning on a partner exchange — was compromised due to a sophisticated server breach. I confirm that the CoinDCX wallets used to store customer assets are not impacted and remain completely safe,” he added.
Gupta emphasised that customer funds are secure. “Your assets remain completely safe and protected in our secure cold wallet infrastructure. All trading activity and INR withdrawals continue to operate as usual,” he said.
Neeraj Khandelwal, co-founder of CoinDCX, also shared details about the situation on his X profile. Khandelwal assured users that all customer assets are safe, and that trading activity and INR withdrawals continue without any disruption.
He further mentioned that crypto withdrawals, where enabled, are also operating as usual.
Khandelwal emphasized that while the scale of this incident is not large, the company is working diligently to recover the affected funds. “We will share all the details of the incident as the team verifies the facts. We are working with multiple crypto forensics agencies to recover the lost funds from our treasury,” he wrote on X.
“We are supercharged to take CoinDCX to the next level, learning from this incident — we will not let it go to waste,” Khandelwal added.
“The incident was quickly contained by isolating the affected operational account,” Gupta added. “Since our operational accounts are segregated from customer wallets, the exposure is limited to this specific account and is being fully absorbed by us — from our own treasury reserves.”
CoinDCX’s internal security and operations teams have been working closely with leading cybersecurity partners to investigate the matter, patch any vulnerabilities, and trace the movement of funds.
The company is also collaborating with its exchange partner to block and recover assets and plans to launch a bug bounty program soon.
