Crypto exchange coindcx big reward for recovery of Rs 378 Crore Lost in Hacking, Bitcoin

One of the larger crypto exchanges, Coindcx has suffered a loss of more than $ 4.42 million (about Rs 378 crore) due to hacking. Coindcx has offered to give 25 percent of the recovery to those who assist in identifying the stolen assets and identifying its culprits.

The incident of making a dent in the system of this Crypto Exchange took place on Saturday last week and in it the hackers targeted one of the International Operational Accounts of the Exchange. However, Coindcx has assured its users that their funds are completely safe. This has clarified that this account was used for liquidity -related operations on a partner exchange and no assets of the customer were stored in it.

In the Recovery Bounty program announced by Coindcx, ethical hackers and ecosystem partners have been invited to cooperate in this investigation. This Crypto Exchange says that its target is to recover the web3 community in the fight against cybercrime along with recovery of funds. If the stolen fund of Coindcx is recovered, then those who help can get up to $ 1.1 million as a reward. Sumit Gupta, co-founder of this Crypto Exchange, stated in a post on social media platform X that a complex server has been attacked on an account of Coindcx. He had said that this loss would be completely covered with the company’s Treasury Reserve. This is sufficient to lift the reserve loss.

After this hacking, CoindcX temporarily closed its web3 trading platform as vigilance. However, it was later resumed for users. Gupta also advised the exchange users not to hurry. He had said, “Don’t sell your assets in a hurry.” Coindcx’s internal security team is working with the International Cybercharity Partners to investigate this hacking. Last year, in the system of another major crypto exchange Wazirx, hackers stole the cryptocurrency of more than $ 23 million.