Indian crypto exchange CoinDCX confirms $44M stolen during hack

CoinDCX, India's largest cryptocurrency exchange, has confirmed that $44 million was stolen during a recent hack. The company stated that it will absorb the costs of the breach and that customer funds were not affected. The hack occurred on November 23rd, and CoinDCX immediately halted all withdrawals and deposits to investigate the incident. The exchange has since restored its services and stated that it is working with law enforcement and cybersecurity experts to identify and apprehend the perpetrators. CoinDCX has assured its customers that their funds are safe and that the company will continue to prioritize the security and protection of its platform. The exchange has also pledged to enhance its security measures to prevent similar incidents from occurring in the future. The incident highlights the ongoing challenges faced by the cryptocurrency industry in ensuring the security of its platforms and protecting against cyber threats. As the adoption of digital currencies continues to grow, the need for robust security measures and regulatory oversight has become increasingly important.