CoinDCX Confirms Rs 380 Crore Hack, Says User Funds Are Safe

India’s second-largest cryptocurrency exchange, CoinDCX, has confirmed a massive cyberattack. On July 20, 2025, hackers stole nearly Rs 380 crore ($44 million) from the company’s internal treasury account.

But here’s the big relief: no customer funds were touched.

What Really Happened?

CoinDCX CEO Sumit Gupta called it a “sophisticated server attack.” The hackers broke into a specific partner exchange account that was only used to manage liquidity.

“As soon as we noticed it, we stopped the account to limit the damage,” Gupta said.

This account did not hold any user money. It was part of CoinDCX’s internal treasury, used for company operations—not customer wallets or trades.

How CoinDCX Responded

The company acted fast.

They isolated the affected systems, secured user assets, and started investigating the breach. CoinDCX also launched a Recovery Bounty Program—they’re offering up to 25% of the recovered crypto to anyone who helps trace the stolen funds.

Co-founder Neeraj Khandelwal said, “We will take the loss ourselves. Our top goal was to protect user funds. And we did that.”

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What’s Working and What’s Paused?

INR withdrawals and trading? Still active.
Customer wallets? 100% safe.
Web3 trading? Paused for now while the team upgrades security.

They also plan to launch a Bug Bounty program soon. This will help find weak spots in their system before hackers do.

Second Big Crypto Hack in India

This is India’s second-largest crypto hack. Just a year ago, WazirX faced a similar attack and lost $234 million. That led to a full stop on its services.

But CoinDCX is getting praise for handling things better—they acted fast, told users the truth, and didn’t shut down services.

CEO Sumit Gupta said, “Every attack is a lesson. This will only make our systems stronger.”

The crypto world is risky. But how a company responds shows its real strength. And CoinDCX just proved it’s ready to fight back—with honesty and speed.