CoinDCX, one of India’s top cryptocurrency exchanges, suffered a significant breach in which attackers drained about Rs 368 crore ($44 million) from a treasury wallet. Notably, user funds remained safe, as only internal systems were affected.
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In response, CoinDCX launched India’s largest-ever crypto recovery bounty, inviting ethical hackers and blockchain investigators to help trace and recover the stolen funds. The bounty offers up to 25 percent of recovered assets, encouraging wide participation in the hunt.
The hack occurred through a sophisticated server compromise, highlighting the risks even highly secured infrastructures face from internal access points. CoinDCX promptly paused its Web3 operations, isolated affected systems, and maintained regular trading and INR withdrawals.
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The stolen funds have been traced to public Ethereum and Solana wallets. CoinDCX is working with analytics firms and law enforcement to track, freeze, or retrieve the assets. Meanwhile, the exchange has pledged stronger infrastructure with enhanced bug bounties, revamped internal procedures, and tighter external audits.
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This bold and transparent recovery effort signals a maturing crypto landscape in India and sets a new standard for handling high-impact breaches.
