Indian Crypto Exchange CoinDCX Bounty Launch After $44 Million Exploit - Techgenyz

TechGenyz reports on Indian cryptocurrency exchange CoinDCX's response to a devastating $44 million hack targeting their internal operational account.

Following a sophisticated breach on July 19, 2025, CoinDCX launched India's largest crypto recovery bounty program, offering up to 25% of recovered funds (potentially $11 million) to white-hat hackers and blockchain investigators. The attack, which bears similarities to North Korea's Lazarus Group tactics, involved funds routed through Tornado Cash and cross-chain bridges from Solana to Ethereum. While user funds remained secure in segregated wallets, the incident prompted collaboration with top cybersecurity firms including Sygnia, Seal911, and Cyvers for forensic investigation.

• Massive bounty initiative: CoinDCX offers up to $11 million reward for asset recovery assistance • Sophisticated attack methods: Hackers used advanced techniques including Tornado Cash and cross-chain bridges • Industry-wide implications: The breach highlights urgent need for enhanced security measures across centralized exchanges • Regulatory attention: CERT-In investigation underway, potentially triggering stricter cybersecurity requirements for Indian crypto platforms