The CoinDCX hack shocked India’s crypto industry as hackers stole ₹368 crore (~$44 million) from an internal liquidity account. This breach raised serious questions about exchange security and user trust in India’s growing digital asset market.
CoinDCX Hack and What Happened
On July 19, 2025, CoinDCX confirmed the hack targeting its internal operational account. The account was used only for liquidity provisioning on a partner exchange. As a result of the CoinDCX hack, the attackers drained approximately ₹368 crore in funds.
User Funds Safe After CoinDCX Hack
CoinDCX stated the hack did not impact customer wallets. The stolen funds were in a segregated internal account, separate from user assets. Moreover, CoinDCX pledged to cover the entire loss using its own reserves. Therefore, no user funds were lost due to the CoinDCX hack.
Response and Security Measures
Blockchain investigator ZachXBT exposed the CoinDCX hack nearly 17 hours before the company went public. This delay sparked debate over transparency in the crypto sector. Following the incident, CoinDCX suspended its Web3 trading services for security checks. However, INR trading and withdrawals continued without interruption.
In addition, CoinDCX partnered with top cybersecurity firms and launched India’s largest crypto bug bounty program, offering up to 25% of recovered assets as rewards.
Pattern in Crypto Breaches
Experts believe the CoinDCX hack is similar to the WazirX breach from July 2024. Both involved cross-chain liquidity exploits and happened exactly a year apart, suggesting a coordinated attack group.
According to Chainalysis, global crypto hacks in early 2025 have already exceeded $2.17 billion, with the CoinDCX hack adding significantly to the total.
Regulatory Gaps and Trust Issues
The CoinDCX hack highlights India’s lack of strict crypto exchange regulations. Without clear security standards and accountability rules, user protection remains weak. This incident underscores the urgent need for government-backed cybersecurity policies and exchange audits.
Key Takeaways
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The CoinDCX hack resulted in a ₹368 crore loss but did not affect user funds.
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CoinDCX covered the loss using its own reserves.
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The hack revealed security gaps and the need for strict regulations in India’s crypto industry.
