[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Christian Tanner, MLaw, LL.M., TEP [@TacTanner](/creator/twitter/TacTanner) on x XX followers Created: 2025-07-23 19:01:24 UTC $XX Million Gone - What Happened at CoinDCX? Over the weekend, India’s largest crypto exchange, CoinDCX, suffered a $XX million security breach after attackers compromised one of its hot wallets, used for managing internal liquidity. The hackers didn’t exploit a smart contract or blockchain flaw. They simply gained access to backend wallet infrastructure, and moved the funds fast. Most of it was routed through Ethereum and Solana-based bridges. What’s important to know: - User funds were not affected, according to CoinDCX’s CEO. - The company is covering the full loss through its corporate treasury. - A $11M white-hat bounty is now being offered for recovery assistance. - The breach is now under investigation, some suspect the Lazarus Group (again). This is reportedly the second-largest exchange breach in Indian crypto history, behind the $235M WazirX incident in 2024. And here’s the kicker: This wasn’t a failure of DeFi. It wasn’t a bug in a token. It was a reminder that custody and internal security, the boring, backend stuff, is still one of crypto’s biggest risks. What this highlights: - Custodial exchanges = custodial risk. - Transparency around cold/hot wallet management is critical. - Real-time audits, security bounties, and multi-sig structures should be standard, not luxury. - The future of crypto infrastructure must include institutional-grade operational security, not just blockchain innovation. This story matters, not because CoinDCX made a mistake, but because it shows how high the stakes are becoming. $44M gone in minutes. And yet, many retail users are still in the dark about how their assets are stored.  XX engagements  **Related Topics** [blockchain](/topic/blockchain) [coins wallets](/topic/coins-wallets) [coindcx](/topic/coindcx) [happened](/topic/happened) [llm](/topic/llm) [Post Link](https://x.com/TacTanner/status/1948096124243292301)
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
Christian Tanner, MLaw, LL.M., TEP @TacTanner on x XX followers
Created: 2025-07-23 19:01:24 UTC
$XX Million Gone - What Happened at CoinDCX?
Over the weekend, India’s largest crypto exchange, CoinDCX, suffered a $XX million security breach after attackers compromised one of its hot wallets, used for managing internal liquidity.
The hackers didn’t exploit a smart contract or blockchain flaw. They simply gained access to backend wallet infrastructure, and moved the funds fast. Most of it was routed through Ethereum and Solana-based bridges.
What’s important to know:
- User funds were not affected, according to CoinDCX’s CEO.
- The company is covering the full loss through its corporate treasury.
- A $11M white-hat bounty is now being offered for recovery assistance.
- The breach is now under investigation, some suspect the Lazarus Group (again).
This is reportedly the second-largest exchange breach in Indian crypto history, behind the $235M WazirX incident in 2024.
And here’s the kicker: This wasn’t a failure of DeFi. It wasn’t a bug in a token. It was a reminder that custody and internal security, the boring, backend stuff, is still one of crypto’s biggest risks.
What this highlights:
- Custodial exchanges = custodial risk.
- Transparency around cold/hot wallet management is critical.
- Real-time audits, security bounties, and multi-sig structures should be standard, not luxury.
- The future of crypto infrastructure must include institutional-grade operational security, not just blockchain innovation.
This story matters, not because CoinDCX made a mistake, but because it shows how high the stakes are becoming. $44M gone in minutes. And yet, many retail users are still in the dark about how their assets are stored.
XX engagements
Related Topics blockchain coins wallets coindcx happened llm