CoinDCX Releases Follow-Up Announcement on "Approximately $44.20 Million Stolen": Losses Will Be Covered by Own Treasury Reserves

On July 20, Indian crypto exchange CoinDCX issued a follow-up announcement to the "attack resulting in a loss of approximately $44.20 million" stating that the attack was due to an internal operations account being stolen due to a server attack. CoinDCX wallets used to store customer assets were not affected, and the related losses will be fully covered by CoinDCX's own treasury reserves. They are currently freezing and recovering assets and plan to launch a bug bounty program.

Previous reports indicated that CoinDCX was hacked around yesterday morning, with losses of approximately $44.20 million.