India’s second-largest cryptocurrency exchange, CoinDCX, confirmed a sophisticated security breach on July 19, 2025, resulting in approximately $44.2 million being stolen from the platform. The exchange is implementing additional security layers including zero-trust architecture, enhanced intrusion detection systems, and improved wallet segregation protocols. This follows last year's $235 million WazirX hack, highlighting India's crypto security risks. The attack pattern mirrors previous crypto exchange breaches, particularly the methodology used by North Korean hacking groups like Lazarus Group, who have been linked to over $2 billion in cryptocurrency thefts globally. Industry experts recommend mandatory insurance coverage and standardized security audits for all cryptocurrency platforms operating in India to prevent similar incidents and protect investor interests. This incident marks another significant cyberattack on India’s crypto infrastructure, coming exactly one year after the devastating WazirX hack that cost investors $235 million. The breach occurred through a private key compromise, allowing attackers to authorize transactions from the affected wallet without triggering multi-signature security protocols. Trading operations resumed within hours, with enhanced monitoring protocols implemented across all API endpoints and transaction validation systems.
This Cyber News was published on cybersecuritynews.com. Publication date: Mon, 21 Jul 2025 09:30:13 +0000