India’s top crypto exchange CoinDCX has taken a bold step after facing a major hack. On July 21, the company announced a recovery bounty program to trace and recover the $44.2 million worth of assets stolen in a cyberattack over the weekend.
The hack, which happened on July 19, targeted one of the exchange’s internal operational accounts used for managing liquidity. CoinDCX quickly clarified that user funds were safe and only the company’s own treasury was affected.
Now, the company is offering up to 25% of any recovered funds, with a maximum reward of $11 million, to individuals or teams who can help track the stolen crypto and help identify the hackers behind it.
In a powerful blog post, CoinDCX said,
“This isn’t just about stolen funds. It’s about standing up for what Web3 stands for – freedom, transparency, and trust.”
The post added that although the loss was big, CoinDCX has already covered it from its own reserves. The platform remains financially strong and fully operational. “We’re tightening our security and redesigning parts of our infrastructure so this never happens again,” the post added.
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A Call to White Hats and Web3 Warriors
CoinDCX’s bounty program is open to ethical hackers, white-hat researchers, and cybersecurity experts. Basically, anyone who wants to help make crypto safer can get involved.
If successful, they can walk away with a serious payday—up to $11 million.
Co-founder and CEO Sumit Gupta took to social media right after the attack. He said the issue was quickly contained and only affected one internal account. He confirmed that no customer wallets were ever touched.
“Our internal and external security teams worked round the clock to trace the issue, close all loopholes, and stop any further damage,” Gupta said on X.
Trust, Rebuilt Through Action
While hacks and scams are sadly common in crypto, CoinDCX’s approach feels different. Instead of hiding the issue, they went public, owned the problem, and invited the community to fight back together.
The message is clear:
“This is a test of trust—and we’re meeting it head-on.”
For India’s Web3 scene, this could set a new standard in how platforms respond to crisis—with transparency, action, and community power.
If successful, the CoinDCX Recovery Bounty could not only help bring the hackers to justice, but also make the entire ecosystem stronger.
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