Crypto Catastrophe: The Great CoinDCX Heist—$44 Million Gone, But Your Wallet’s Safe! 😅

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So, grab your popcorn, because CoinDCX just dropped a bombshell! 💣 Apparently, a “sophisticated server breach” led to a oh-so-casual $44 million exploit. Can you believe it? 😱

In a gripping report (because who doesn’t love a good incident narrative?), they confirmed all that cash was tied up in one of their internal liquidity accounts. But don’t panic! Your shiny customer funds are as safe as a cat in a sunbeam. ☀️

They discovered this whole messy debacle on July 19 at the delightful hour of 4 a.m. IST. Because nothing screams “good morning” like unauthorized access, right? 😏 The company’s quick on its feet, saying this sneaky hacker made their way into an account used for liquidity provisioning on a partner exchange. Such an overachiever!

CoinDCX, in all their wisdom, made sure to point out that this “sophisticated” attack couldn’t touch the user wallets—kept far away in cold storage like fine wine—so, cheers to that! 🍷

Guess what? You can still withdraw your precious INR, deposit more, and trade to your heart’s content. They did hit the pause button on web3 wallet functionality for a hot minute, but it’s back up and running now. Phew! 😅

They swore up and down, “Your funds are 100% safe,” whilst enlisting the best of the best in cybersecurity and blockchain forensics to find the digital villain. They’ve even launched a Recovery Bounty Program because, who doesn’t want to turn this fiasco into a treasure hunt?! 🕵️‍♂️✨

After delaying the announcement for about 17 hours—no biggie, right?—they seemed to prioritize containing the mess over spilling the tea. And with strong reserves and some solid proof-of-reserves, they’ve assured us that all’s well in customer land. 😉

Now, this little hiccup comes just a year after the spicy $230 million hack at WazirX—because, you know, crypto drama never sleeps! The fact that CoinDCX managed to absorb the loss without giving users a heart attack is a refreshing change, unlike previous episodes that left everyone more frozen than an ice cream truck in winter. ❄️

And we can’t forget our superhero, blockchain investigator ZachXBT, who spotted the breach on July 19 and started tracing the attacker like a detective in a noir film. They were playing hopscotch with stolen funds across Tornado Cash and both Solana and Ethereum. Oh, the irony! In the end, those funds are now apparently hanging out in two addresses, chilling like it’s vacation time. 🏖️

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2025-07-21 09:03