CoinDCX Offers Massive Bounty Program After $44M Hack

The post CoinDCX Offers Massive Bounty Program After $44M Hack appeared first on Coinpedia Fintech News 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 remains fully operational and financially strong. Announcing the @CoinDCX Recovery Bounty Program: Up to 25% of any recovered funds will be awarded to individuals or teams who can help trace and retrieve the stolen crypto. Just to give more context: -> We want to be upfront. The exposure was from our own reserves, and we have… https://t.co/GHHlxf3PxB — Sumit Gupta (CoinDCX) (@smtgpt) July 21, 2025 Gupta noted that the priority is to identify and catch the attackers, to help prevent such incidents across the entire crypto industry. “Cybercrime is an attack on trust. And when one of us is targeted, all of us feel it,” the exchange shared in a blog post. It added that the bounty is about more than recovering funds, it’s about protecting trust in the Web3 ecosystem and setting a higher standard for security and response. 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.