CoinDCX Launches $11M Bounty After $44M Wallet Hack

The CoinDCX hack on July 18, 2025, saw $44 million stolen from the exchange’s internal trading wallet. The attacker laundered funds through Tornado Cash and bridged over $15.8 million from Solana (SOL) to Ethereum (ETH). Blockchain security platforms, including Cyvers Alerts, and researcher ZachXBT traced the hacker’s wallet, which now holds about 12,144 ETH (~$46 million). In the wake of the CoinDCX hack, the platform launched a recovery bounty program on July 19, offering up to $11 million (25% of recovered funds) to white-hat researchers who help trace and return the stolen assets. The initiative is backed by the Solana Foundation, Wormhole, deBridge and security firm Sygnia. Co-founders Sumit Gupta and Neeraj Khandelwal assured traders that user funds are safe and company reserves will cover any shortfall. The program underscores CoinDCX’s commitment to enhanced crypto security and rapid fund recovery.
Bearish
The CoinDCX hack and subsequent recovery bounty underscore short-term bearish pressure on SOL and ETH as stolen tokens hit the mixer and cross-chain bridges, driving potential sell-offs and market uncertainty. In the immediate term, traders may reduce exposure to Solana assets linked to the breach. However, the swift launch of a large bounty program and assurances on user fund safety could stabilize confidence over the long run, limiting deeper losses once white-hat efforts begin returning assets.