ETtech Explainer: CoinDCX cyberattack — What you need to know about the $44 million crypto hack

Indian cryptocurrency exchange CoinDCX suffered a cyberattack on July 19, leading to the theft of digital assets worth around $44 million from one of its internal operational accounts. This is the second major crypto hack involving an Indian exchange within a year, following the high-profile WazirX breach in 2024.

ET breaks down what happened and what it means for users.

Q: What exactly happened at CoinDCX?

A: In separate social media posts, cofounders Sumit Gupta and Neeraj Khandelwal said that the exchange experienced a server-side breach targeting an…