The Indian cryptocurrency exchange CoinDCX was attacked on Friday, causing the exchange to lose approximately 44 million USD.
The hack originated from hackers taking control of an internal account of CoinDCX, which was used for liquidation activities with another exchange. According to CEO Sumit Gupta, no user assets were affected, as the compromised account was immediately isolated and completely separated from customer wallets. The damage will be covered by the company's reserve fund.
According to onchain analysis by ZachXBT, the hacker's wallet was funded with 1 ETH from Tornado Cash, then transferred a portion of the stolen assets from Solana to Ethereum through a bridge.
Notably, exactly one year ago today, WazirX - another major exchange in India - was also hacked for 235 million USD, demonstrating that cybersecurity threats continue to plague the crypto industry.
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The article CoinDCX Exchange of India Hacked for 44 Million USD first appeared on CoinMoi.
