CoinDCX founder confirms platform hacked, assures investor fund and assets safe and unaffected

Crypto exchange CoinDCX co-founder Sumit Gupta confirmed reports of a security breach that wiped out $44 million from the exchange platform but assured investors that their funds and assets are safe and unaffected. He also clarified that all trading activity and withdrawals are functional as usual.Hackers on Saturday (July 19) gained access to one of the company’s internal operational accounts that Gupta said is used only for liquidity to facilitate smoother trades and separate from the customers’ wallets on the platform.”I confirm that the CoinDCX wallets used to store customer assets are not impacted and are completely safe,” he said in a social media post made to maintain transparency with customers after media reports about the security started surfacing online. Also Read: NLC India’s renewable arm NIRL to raise ₹4,000 Cr via IPO by FY27: CMDThe $44 million loss, however, will be covered from the company’s treasury reserves.”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,” he added.The founder also acknowledged that even though funds and assets remain affected, incidents of security breaches can be unsettling and that he will share any update as they learn more about it. The company’s internal security and operations teams have been working along, with leading cybersecurity partners to investigate the matter, addressing safety gaps, and tracing fund movement at the moment.”Every security incident is a learning, and we will learn from this and further strengthen our platform,” he added. CoinDCX recorded a 32% month-on-month surge in spot trading volumes in May. According to the company’s latest transparency report, spot trading on CoinDCX rose to $492 million in May 2025, up from $374 million in April. Year-on-year volumes jumped 132%, rising from $212 million in June 2024. 
(Edited by : Akanksha Upadhyay)

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