CoinDCX Engineer Don Arrested After $44M Credential Hack
On July 19, hackers con use DevOps engineer Rahul Agarwal own login credentials wey dem don compromise take enter one internal liquidity account for CoinDCX. Dem start one 1 USDT test transfer by 2:30 am before dem quick quick move ₹379 crore (about $44 million) waka go six different wallets by 9:30 am. Di CEO Sumit Gupta call dis hacking one "sophisticated social engineering attack." Neblio Technologies see say unauthorised access dey go complain give police for Bengaluru, wey later take Rahul Agarwal laptop and detain am. Rahul no accept say e get direct hand but e talk say e dey do part-time external work and e collect ₹15 lakh from one unknown person. Rahuli talk say one German phone call carry malware enter hin work laptop make di attackers fit pass di internal controls dem. CoinDCX talk say no user asset loss happen and dem dey strengthen di exchange security and crypto security. Dis CoinDCX hack show say credential breach and social engineering attacks dey increase for 2025 after big exploits like Bybit $1.5 billion Lazarus Group breach. Cryptotrader dem suppose watch how dis thing go affect exchange security standards and market confidence.
Neutral
Even though di $44 million CoinDCX hack show important weak points for exchange security plus social engineering tactics, di fast detection, no user asset loss, and ongoing protocol strengthening go help limit immediate market wahala. Traders fit take care small about credential breach risks, but di overall effect on digital asset trading for CoinDCX go still neutral.