CoinDCX’s $44M Breach Tied to Social Engineering Attack

21:56 31.07.2025 CVJ.AI Editorial Office

This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.

Indian crypto exchange CoinDCX suffered a $44 million security breach linked to a sophisticated social engineering attack. CEO Sumit Gupta revealed that an employee’s credentials were likely manipulated to gain unauthorized access.

CoinDCX's $44M breach stemmed from a social engineering attack targeting an employee.
A Bengaluru-based software engineer's credentials were allegedly misused in the exploit.
Social engineering scams cost crypto users and exchanges hundreds of millions annually.

📎 Related coverage from: cryptoslate.com

Related Tags: Coinbase Global Inc.

Other Tags: Tether (USDT), ZachXBT, CoinDCX, DMM Bitcoin

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CoinDCX’s $44M Breach Tied to Social Engineering Attack

CoinDCX, a leading Indian cryptocurrency exchange, reported a $44 million security breach resulting from a social engineering attack. CEO Sumit Gupta stated that preliminary findings suggest an employee was targeted, leading to unauthorized access to internal systems. Reports indicate that a software engineer's credentials were misused, with the attacker first testing a small transaction before executing the larger theft. Authorities are investigating potential complicity or negligence. The incident highlights the growing threat of social engineering in crypto, with similar attacks affecting exchanges like Japan’s DMM Bitcoin and Coinbase users losing millions annually. Despite advanced cybersecurity measures, human vulnerabilities remain a critical weak point.

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