Kathmandu. Cryptocurrency exchange CoinDCX was attacked on Saturday. The company has lost $ 44 million (about Rs 6.5 billion) in this attack.
CoinDC’s co-founders Neeraj Khandelwal and Sumit Gupta confirmed this in separate posts. They have also claimed that the customer’s money is safe. The company will compensate for this loss from its funds.
This is not the first time cryptocurrency has been hacked. This is another name added to the list of attacks on crypto in the last one year.
According to blockchain analytics firm Chainalysis, cyber attacks on crypto platforms caused a loss of $2.2 billion (about Rs 302.5 billion) in 2024 itself. This is the fourth year in a row, when the amount has crossed $1 billion.
In February, Bibit lost nearly $1.5 billion. One hacker accessed their offline Ethereum wallet. Ethereum is the second most expensive cryptocurrency in the world after Bitcoin. Experts believe north Korea’s Lazarus group was behind the attack.
In May, Coinbase reported that internal data leaks and employee collusion could cost them up to $400 million. The company refused to pay the hackers a ransom of $20 million.
Last year, Indian crypto exchange WazirX released a $230 million theft report. It was found that the theft was caused by an error in the third-party transaction interface. This was the biggest crypto attack for the Indian company. The stolen money was hidden using a crypto mixer called TornadoCash. Crypto mixer is a device, which makes it difficult to track crypto transactions.
In December last year, the Economic Times spoke to about a dozen people. They invested between Rs 30,000 and Rs 15 million in crypto. A lot of people talked about their financial problems. Some were in debt, some had to leave their villages, and some even thought of committing suicide. This shows just how risky it can be to invest in crypto.
