CoinDCX has announced a $11 million recovery bounty program after suffering a major hack that led to a $44 million crypto theft from its internal operational account.

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The recovery program offers up to 25% of recovered funds to individuals or teams who help trace the stolen crypto and identify the perpetrators.

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CoinDCX's cofounder Sumit Gupta emphasized that the focus is not just on recovering the stolen assets but on ensuring such attacks never happen again.

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Ethical hackers, white-hat researchers, and cybersecurity professionals are being actively invited to participate in the bounty program.

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CoinDCX absorbed the loss from its company treasury, ensuring no customer assets were compromised and platform operations remain unaffected.

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The crypto exchange is working with top cybersecurity firms like Sygnia, zeroShadow, and Seal911, along with partners such as Solana Foundation and Wormhole, to recover the stolen assets.

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The hack targeted an internal wallet used for liquidity provisioning, but the threat was contained swiftly by isolating the compromised account.

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This breach makes CoinDCX the second major Indian crypto exchange hit by hackers after WazirX, which lost $234 million in July 2024 and has only recovered $3 million so far.

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