Indian crypto exchange CoinDCX has recently suffered a major security breach, leading to a loss of $44 million in digital assets. Bengaluru police, in charge of the investigation, confirmed the theft was caused by malware linked to a fake job offer . A CoinDCX employee unknowingly installed the malware after being tricked by scammers pretending to be recruiters. A Software Engineer Targeted by Fake Recruiters Police say cybercriminals tricked a CoinDCX software engineer, Rahul Agarwal, by posing as recruiters. They offered him a part-time job and tricked him into installing malware on his work laptop. This gave the attackers access to CoinDCX’s internal systems. Reports suggest the attackers used Agarwal’s login credentials to move the funds. Investigators say the device was then used to breach wallet systems managed by Neblio Technologies, the parent company of CoinDCX. Rahul Agarwal has been arrested and is being questioned. His company laptop has also been seized. When he was interrogated, he claimed he did not know he was involved in the scheme until the company confronted him. The investigation is still ongoing, and authorities are trying to trace the stolen funds. So far, there is no official confirmation of where the money was sent or whether it can be recovered. CoinDCX Promises to Cover Losses In a recent statement, CoinDCX co-founder and CEO, Sumit Gupta, confirmed that the attack came from a breach in a server tied to the company’s internal wallet. He said that user funds are safe and that the company will cover the losses. Neeraj Khandelwal, the company’s other co-founder, shared that CoinDCX has launched a Recovery Bounty Programme. The exchange is offering 25% of the stolen amount, roughly $11 million, to anyone who helps recover the stolen crypto. Scam victims, huge corporations, are increasingly using bounty offers to recover their stolen funds. This method has worked so far, allowing crypto firms to recover their funds without pursuing a legal settlement against the hacker. Second Major Attack on Indian Crypto Firms This latest incident is not the first time an Indian crypto exchange has faced such a blow. In July 2024, WazirX, another major platform, was hacked, losing over $230 million . Authorities believe that North Korea’s Lazarus Group was behind that attack. Efforts to rebuild WazirX hit a setback in June when a Singapore court rejected its reorganization plan. This highlights how hard it can be for companies to recover after a major attack. The CoinDCX breach has sparked new concerns about cybersecurity in India’s growing crypto space and the global industry. As the investigation goes on, the company is working to strengthen its systems and recover the lost funds. Meanwhile, experts are urging users and employees to watch out for online scams, especially fake job offers. The post CoinDCX Suffered $44 Million Hack Because of Fake Job Offer appeared first on TheCoinrise.com .
