5 Minutes, $44M: CoinDCX Hack Shows All the Signs of Lazarus Involvement
Contents
5 Minutes, $44M: CoinDCX Hack Shows All the Signs of Lazarus Involvement
Inside the $44M CoinDCX Heist and Why Indiaâs Exchanges Are Under Fire
Indiaâs two largest exchanges- WazirX in 2024 and now CoinDCX in 2025, have been struck by devastating breaches. Both incidents happened on the same date, one year apart, following the same exploit pattern. Coincidence? Hardly.
Both were detected by Cyvers, and our analysis suggests this latest attack bears the hallmarks of North Koreaâs Lazarus Group, one of the most aggressive state-sponsored hacker syndicates targeting centralized exchanges.
How the $44 Million CoinDCX Hack Unfolded
What makes this breach alarming isnât just the $44.2 million (â¹368 crore) drained from CoinDCXâs operational walletâitâs the speed, precision, and cross-chain sophistication.
Pre-Attack Setup (July 16, 2025)
- 01:43 UTC â Funding sourced from Tornado Cash (Ethereum).
- 02:13 UTC â Funds funneled through FixedFloat, a rapid swap service.
- 02:17 UTC â Withdrawn to Polygon.
- 02:22 UTC â Bridged to …
Inside the $44M CoinDCX Heist and Why Indiaâs Exchanges Are Under Fire
Indiaâs two largest exchanges- WazirX in 2024 and now CoinDCX in 2025, have been struck by devastating breaches. Both incidents happened on the same date, one year apart, following the same exploit pattern. Coincidence? Hardly.
Both were detected by Cyvers, and our analysis suggests this latest attack bears the hallmarks of North Koreaâs Lazarus Group, one of the most aggressive state-sponsored hacker syndicates targeting centralized exchanges.
How the $44 Million CoinDCX Hack Unfolded
What makes this breach alarming isnât just the $44.2 million (â¹368 crore) drained from CoinDCXâs operational walletâitâs the speed, precision, and cross-chain sophistication.
Pre-Attack Setup (July 16, 2025)
- 01:43 UTC â Funding sourced from Tornado Cash (Ethereum).
- 02:13 UTC â Funds funneled through FixedFloat, a rapid swap service.
- 02:17 UTC â Withdrawn to Polygon.
- 02:22 UTC â Bridged to …