Indian cryptocurrency exchange CoinDCX has confirmed a cyberattack that resulted in a loss of approximately $44 million. The CoinDCX cyberattack, which occurred on July 19, 2025, targeted one of the platform’s internal operational accounts. CoinDCX co-founders have assured users that no customer’s funds were affected by the breach, and that trading operations remain uninterrupted.
Co-founder Neeraj Khandelwal disclosed the breach in a public post on X (formerly Twitter) on July 20, stating that the team had been working intensively to manage and investigate the incident. “We suffered a security attack early this morning (~17 hours ago),” Khandelwal posted. He clarified that the breach was limited to an internal account used solely for liquidity provisioning on a partner’s exchange.
“All the customer assets are safe, and the trading activity plus the INR withdrawals continue unhindered,” he said. Crypto withdrawals, for users who have access enabled, also remain operational.
CoinDCX emphasized that its customer wallets were not compromised due to the segregation between user assets and operational funds. “The incident was quickly contained by isolating the affected operational account,” Khandelwal explained, adding that the loss would be absorbed by the company’s treasury reserves.
Responding to the CoinDCX Cyberattack
CoinDCX co-founder and CEO Sumit Gupta also addressed the breach directly to reassure the community. In his statement, Gupta reiterated the platform’s commitment to transparency, confirming that customer funds remain “completely safe and protected in our secure cold wallet infrastructure.”
He further explained that CoinDCX had initiated a full-scale investigation with the help of top cybersecurity firms and forensic experts. “We are collaborating with the exchange partner to block and recover assets, and we’re also launching a bug bounty program,” he said. The company is taking additional steps to patch any vulnerabilities in its infrastructure to prevent similar incidents in the future.
The cyberattack on CoinDCX has prompted the company to temporarily suspend operations of its Web3 platform as a precautionary measure. However, CoinDCX assured users that all Web3 customer funds are also safe and that the service will resume shortly.
Conclusion
Gupta acknowledged that while the CoinDCX cyberattack was distressing, it also presents an opportunity for the company and the broader crypto industry to strengthen defenses against cyber threats. “Every security incident is a learning,” he said. “We commit to work together with experts to secure our industry. This is our time to win the war against cyberthreats.”
The Cyber Express has reached out to CoinDCX to learn more about this cyber incident. However, at the time of writing this, no official statement or response had been received. This is a developing story, and The Cyber Express will be closely monitoring the situation. We’ll update this post once we have more information on the CoinDCX cyberattack or any new statements from the company.
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