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3w ago

CoinDCX Engineer Detained in $44 Million Crypto Heist Investigation

Launched on July 31, the exchange’s 25% recovery bounty aims to harness outside expertise to locate dispersed digital assets.

Raigad police bust huge cyber fraud racket, arrest 11, seize 6,175 SIM cards
Bengaluru authorities suspect an inside job involving employee Rahul Agarwal, who may have unwittingly aided the breach.
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Coindcx engineer arrested following july's $43.4m exploit: report

Overview

  • Bengaluru’s Whitefield Cybercrime and city police have detained software engineer Rahul Agarwal after tracing the breach to his compromised company laptop.
  • Hackers tested access with a 1 USDT transfer before siphoning $44 million from an operational wallet on July 19 and routing it through six separate accounts.
  • CoinDCX confirmed that customer funds remained secure and absorbed the operational loss from its own reserves.
  • The exchange is offering up to 25% of any recovered assets to security researchers and ethical hackers who aid the recovery effort.
  • Investigators are tracking the dispersed funds and probing unconfirmed ties to North Korean hacker syndicates as the probe continues.