This incident of breach in the system of this crypto exchange happened on Saturday last week and in this the hackers targeted one of the international operational accounts of the exchange. Highlights
- In this, the hacker had breached one of the international operational accounts of the exchange
- No assets of the customers were stored in this account
- Hacking cases have increased in the crypto segment in the last few years CoinDCX, one of the largest crypto exchanges, has suffered a loss of more than $44.2 million (about Rs 378 crore) due to hacking. CoinDCX has offered a reward of 25 percent of the recovery to those who help recover the stolen assets and identify the culprits.
The breach of the crypto exchange's system took place on Saturday last week and hackers targeted one of the exchange's international operational accounts. However, CoinDCX has assured its users that their funds are completely safe. It has clarified that this account was used for liquidity-related operations on a partner exchange and no customer assets were stored in it.
The Recovery Bounty Program announced by CoinDCX invites ethical hackers and ecosystem partners to assist in this investigation. This crypto exchange says that its target is to recover the funds as well as to involve the Web3 community in the fight against cybercrime. If the entire stolen funds of CoinDCX are recovered, then those who help in this can get up to $ 11 million as a reward. The co-founder of this crypto exchange, Sumit Gupta, had said in a post on the social media platform X that a complex server attack has been done on an account of CoinDCX . He had said that this loss will be fully covered from the company's treasury reserve. This reserve is sufficient to bear the loss. After this hacking, CoinDCX temporarily closed its Web3 trading platform as a precaution. However, it was later restarted for users. Gupta also advised the users of the exchange not to panic. He said, "Do not sell your assets in a hurry." CoinDCX's internal security team is working with international cybersecurity partners to investigate this hacking. Last year, hackers broke into the systems of another major crypto exchange, WazirX, and stole cryptocurrencies worth more than $230 million.
