CoinDCX says it’s stronger than ever after $44 mn crypto hack, reveals financials, recovery plan

Following a $44 million security breach last week, Indian cryptocurrency exchange CoinDCX has reaffirmed its financial strength, operational stability, and long-term commitment to the crypto ecosystem. Despite the setback, the company has declared it remains fully functional and focused on scaling its business across India and global markets.

Co-founder Sumit Gupta said the company is more determined than ever to emerge stronger. “CoinDCX is more focused than ever on building India’s most trusted crypto company — with integrity, resilience, and long-term vision. We’re building stronger. We’re moving faster. And we’re not slowing down,” he said. “DCX Group is focused on building for the next decade of crypto adoption.”

In a blog post, CoinDCX highlighted that its parent group — DCX Group — includes CoinDCX (India), BitOasis (UAE and Bahrain), and the self-custody wallet Okto. Collectively, the group reports annualised revenue of Rs 1,179 crore, with annualised transaction volumes across products reaching Rs 13.7 lakh crore. The group also holds over Rs 10,000 crore in assets under custody (AUC), reflecting significant user trust and operational scale.

The exchange also shared details of its funding journey, which totals Rs 2,144 crore raised over multiple rounds. It is backed by marquee investors, such as Bain Capital, Polychain, Jump Capital, Pantera, Steadview, and B Capital. The continued support from these investors, CoinDCX said, underscores the confidence in its business model and long-term growth trajectory.

The July 18 cyberattack, which led to the loss of nearly Rs 368 crore ($44 million), targeted an internal operational account used for liquidity operations on a partner exchange. Crucially, CoinDCX clarified that no customer funds were impacted by the breach.

Addressing the incident, the company noted, “This is not just about us. This is about standing up for what’s right — for the safety, transparency, and future of the entire Web3 ecosystem. It’s a war against cybercrime.”

As part of its response, CoinDCX has launched a recovery bounty program, offering up to 25% of the retrieved assets to individuals or entities who help recover the stolen funds or identify the attackers. If the entire stolen amount is recovered, the bounty could reach up to $11 million (Rs 94.6 crore).

The company further stated that the loss has already been absorbed through its own treasury reserves and that customer wallets remain uncompromised. CoinDCX is currently enhancing its infrastructure to guard against similar attacks in the future, with an emphasis on building even stronger systems.