On July 19, 2025, CoinDCX — India’s top crypto exchange — was hacked, losing $44.2 million from one of its internal wallets. Thankfully, all customer funds are safe.
The breach wasn’t made public until 17 hours later, when blockchain investigator ZachXBT exposed it. CEO Sumit Gupta confirmed the hack and said only an internal account used for liquidity was affected.
🔍 Who did it?
The attack is linked to North Korea’s Lazarus Group. They tested the system with a $1 USDT transfer days earlier, then used Tornado Cash and bridged funds from Solana to Ethereum.
Experts think the hackers used leaked backend login credentials.
⏰ Community backlash
Many criticized CoinDCX for not reporting the hack quickly. The exchange is now working with security firms to trace the stolen funds and fix any security holes.
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