CoinDCX to absorb $44 million security breach loss: CEO Sumit Gupta

Gupta maintained that customer funds on the platform were not compromised since they were parked on a cold wallet infrastructure

Crypto exchange platform CoinDCX will absorb the entire $44 million loss -- equivalent to about three to four months of its revenue -- from an alleged security breach on its balance sheet this financial year (FY26), said Sumit Gupta, co-founder and CEO of the company. The theft was reported on July 19.

 

The case was the second security breach at an Indian crypto exchange after WazirX’s $230 million theft in July last year.

 

“We have absorbed the (lost) amount on our balance sheet. We have a healthy balance sheet. It’s like three to four months of our revenue. Business continues