Indian cryptocurrency exchange CoinDCX was hacked on Friday, leaving the exchange drained of $44 million.
The hackers compromised one of CoinDCX’s internal accounts used for “liquidity provisions” with another exchange through a server breach.
No user funds were affected due to the exploit, according to CoinDCX CEO Sumit Gupta. The CEO also said that all customer funds remain safe and wrote:
“The incident was quickly contained by isolating the affected operational account. Since our operational accounts are segregated from customer wallets, the exposure is only limited to this specific account and is being fully absorbed by us, from our own treasury reserves.”
“The attacker’s address was funded with 1 Ether (ETH) from Tornado Cash and later bridged a portion of the stolen funds from Solana to Ethereum,” onchain sleuth ZachXBT said.
Cointelegraph reached out to CoinDCX for comment but was unable to obtain a response by the time of publication.
Analyst Infinity Hedge noted that popular Indian exchange WazirX was hacked for $235 million on this exact date, one year ago — a reminder of the persistent cybersecurity threats facing the crypto industry and investors.
This is a developing story, and further information will be added as it becomes available.
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