Major security incidents have occurred in the cryptocurrency world. According to blockchain analyst ZachxBT, India-based cryptocurrency exchange CoindCX was hit by a $44.2 million cyberattack about 17 hours ago.
The incident has not yet been officially announced, but CoindCX CEO Sumit Gupta has issued a statement about social media.
Zachxbt said the attacker’s address was funded by 1 ETH via Tornado Cash, and some of the stolen assets were moved from Solana to the Ethereum Network. The first indication of the attack was detected by the blockchain security platform Cyber. Zachxbt explained that the CoindCX hot wallet used by the attacker was not publicly available and was identified through manual analysis of the address.
Following the incident, CoindCX co-founder and CEO Sumit Gupta confirmed the attack in a post on his official X (formerly Twitter) account. Gupta explained that internal operational accounts, which are used solely to provide liquidity in partner exchanges, were compromised in complex server breaches. However, he insisted that the wallets that hold client funds are completely safe and unaffected.
The CEO claimed that the attack was detected quickly and quarantined, that an operating account was used completely separate from customer funds, and that the loss was covered by CoindCX’s own Treasury Department.
*This is not investment advice.
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