CoinDCX Launches $11M Bounty to Track Down Crypto Hackers

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Indian cryptocurrency exchange CoinDCX has announced a significant recovery initiative following a cyberattack that resulted in the loss of approximately $44 million in digital assets. In an unprecedented move, the company has launched a bounty program offering up to 25% of the recovered funds, potentially reaching $11 million for information leading to the retrieval of the stolen assets and the identification of the culprits.

The breach, which occurred over the weekend, compromised one of CoinDCX’s internal operational accounts used for liquidity management. Unlike user wallets, which remained untouched, the affected account was tied to a partner exchange and was used to facilitate smooth crypto transactions. While most companies in the sector typically offer a 10% recovery reward after a security breach, CoinDCX has chosen to double down, emphasizing its intent to not only retrieve the funds but also bring the attackers to justice.

The company has already enlisted the help of multiple security and blockchain analytics firms, including Sygnia, zeroShadow, and Seal911, in an effort to trace the stolen assets. According to a report by Cybernews, investigators have tracked some of the hacked funds through various digital pathways, ultimately identifying two target wallets holding Solana (SOL) and Ethereum (ETH) assets.

Sumit Gupta, co-founder of CoinDCX, took to social media platform X (formerly known as Twitter) to express the company’s firm stance. “More than recovering the stolen funds, what is important for us is to identify and catch the attackers, because such things shouldn’t happen again, not with us, not with anyone in the industry,” Gupta posted.

Despite the scale of the loss, CoinDCX assured users that the exchange remains financially robust. The stolen funds were absorbed entirely through corporate reserves, and the platform continues to operate without interruption. To prevent similar breaches in the future, CoinDCX has reportedly reinforced its backend security architecture, though specific details remain undisclosed as the investigation is ongoing.

While some users reported price fluctuations on the platform following the attack, the company has stated that pricing is gradually stabilizing. In the meantime, the focus remains firmly on securing the crypto ecosystem and holding cybercriminals accountable.

CoinDCX’s response sets a strong example for how digital asset platforms can take responsibility and act swiftly in times of crisis. It’s a necessary signal to the broader crypto market that operational security cannot be overlooked and must evolve alongside emerging threats.