#CoinDCX# Security Breach# cyber attack
IBNS-CMEDIA: Indian cryptocurrency exchange CoinDCX has announced it lost around USD 44 million (around ₹379 crore) out of its treasury assets on Saturday after one of its internal operational accounts was compromised due to a ‘sophisticated server breach’.
The exchange, however, assured its customers that their assets remained safe.
Sharing details, Neeraj Khandelwal, Co-Founder of CoinDCX, wrote on X: “Coindcx team is all hands working to fire fight the situation as we speak and we will get to the depths of the incidence. All the customer assets are safe and the trading activity plus the INR withdrawals continue unhindered. Crypto withdrawals for those its enabled also continue to operate Business as usual.”
He said the exchange is working to recover the funds.
He said: “Though the scale of this incidence is not huge, we will work hard to recover our funds back. We will share all the details of the incidence as the team validate all the facts.”
“Working with multiple Crypto forensics agency to recover lost funds from our Treasury. We are super charged to take Coindcx to the next level learning from this incidence and we will not let this incidence go waste,” he said.
Sumit Gupta, Co-founder of CoinDCX, said a recovery bounty program will be launching soon to engage the cybersecurity community.
“The incident is isolated to a single operational liquidity-providing account,” he said.
He said trading and withdrawals are running normally.
