CoinDCX Offers Massive Bounty Program After $44M Hack

CoinDCX, one of India’s largest exchanges, suffered a $44.2 million hack on July 19, 2025, after attackers targeted an internal trading wallet. The hackers stole $28.3 million in SOL and $15.78 million in ETH, using Tornado Cash to cover their tracks. CoinDCX quickly secured the wallet and promised to cover losses from their treasury.

25% Reward for Tracing Stolen Crypto

In a latest update, Sumit Gupta, CEO of CoinDCX, has announced a Recovery Bounty Program. Up to 25% of any recovered funds will be awarded to those who help trace and retrieve the stolen crypto. He clarified that the loss came from CoinDCX’s own reserves, not customer funds, and has already been covered through their corporate treasury. The platform continues to operate normally.

Gupta noted that the priority is to identify and catch the attackers, to help prevent such incidents across the entire crypto industry.

Users Raise Transparency Issues

Users have raised concerns about how crypto exchanges handle security issues. While global platforms like Bybit alert users within an hour of a wallet breach, Indian exchanges like WazirX and CoinDCX have taken several hours to do the same. These delays show the need for faster updates and more transparency from Indian crypto platforms.

This incident follows the $230M WazirX hack in 2024, highlighting growing threats to Indian crypto exchanges.