The cybersecurity exploit occurred due to a “sophisticated server breach,” CoinDCX CEO and co-founder Sumit Gupta announced on Saturday.
Indian cryptocurrency exchange CoinDCX was hacked on Friday, leaving the exchange drained of $44 million.
The hackers compromised one of CoinDCX’s internal accounts used for “liquidity provisions” with another exchange through a server breach.
No user funds were affected due to the exploit, according to CoinDCX CEO Sumit Gupta. The CEO also said that all customer funds remain safe and wrote:
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