India’s largest crypto exchange responds with industry-first Recovery Bounty Program to trace stolen funds.


Author: Jaffar Hashmi – Fintech Analyst & Digital Asset Reearcher

India’s largest crypto exchange responds with industry-first Recovery Bounty Program to trace stolen funds

In further move against a major security breach, Indian crypto exchange CoinDCX has launched a $11 million Recovery Bounty Program. The initiative aims to recover approximately $44.2 million in stolen crypto assets and is open to white-hat hackers, cybersecurity experts, and ethical researchers worldwide.

The July 2025 Breach

The attack took place on July 19, 2025, when hackers compromised an internal operational wallet used by CoinDCX for liquidity provisioning on a partner exchange. Blockchain forensics teams have traced the stolen funds to:

  • 155,830 SOL tokens (valued at ~$27.6 million) in a Solana wallet
  • 4,443 ETH (~$15.7 million) in an Ethereum wallet

CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal confirmed that user funds remain safe and unaffected. The exchange has absorbed the loss through its treasury and is now turning to the global community for help.

What Is the Recovery Bounty Program?

The Recovery Bounty Program is designed to crowdsource intelligence on the attackers and aid in fund recovery. Contributors who provide verified, actionable information that leads to the successful recovery of stolen crypto are eligible for up to 25% of the funds they help recover.

Key Program Details:

  • Reward Pool: Up to $11 million
  • Eligibility: Ethical hackers, cybersecurity professionals, blockchain researchers
  • How to Join: Email submissions to bountyprogram@coindcx.com
  • Partners Involved:
    • Solana Foundation
    • Sygnia (cybersecurity firm)
    • zeroShadow
    • Seal911
    • Wormhole, deBridge, and Superteam

“This initiative encourages collaboration between exchanges and the security community to prevent future exploits,” says Amit Malhotra, cybersecurity analyst at CryptoSec Insights. “It’s rare to see this level of openness in crypto—CoinDCX is setting a precedent.”

No Customer Impact, Full Transparency Promised

CoinDCX reiterated that all user assets are safe and the platform continues to operate normally. The company is also collaborating with global law enforcement and blockchain investigation agencies to trace the attackers and prosecute them under cybercrime laws.

In a public blog post, Gupta stated:

“We are committed to transparency and resilience. We invite the global crypto and security community to stand with us in defending the ecosystem.”

Why This Matters for Crypto

This is one of the largest bounty programs ever launched by an Indian exchange. It highlights the shift toward community-driven security models in Web3.

“Bounty programs like this turn the tide against attackers by leveraging collective intelligence,” notes Dr. Pooja Iyer, Head of Blockchain Security at IIIT-Hyderabad.

With increasing crypto adoption in India and globally, how companies respond to attacks will shape public trust and regulatory perception. I my opinion CoinDCX’s move is a smart one and may become a template for others.

Do you Want to Help Recover Stolen Crypto and become a hero!

If you're a white-hat hacker or blockchain sleuth with credible leads on this incident, contact CoinDCX via:   📧 bountyprogram@coindcx.com


Disclaimer: This article reflects the author's opinion and is for informational purposes only. It does not constitute financial advice.

 

 

🔍 SEO Keywords Included:

  • Crypto hack recovery CoinDCX bounty program Solana wallet hack
  • Recover stolen crypto Ethical hacking in cryptocurrency Web3 security

 

 


Comments

Post a Comment

Thank you for sharing your thoughts.

Popular posts from this blog

Don’t Miss These Altcoins in August – Hidden Gems with Massive Potential.

Image
Author: Jaffar Hashmi – Fintech Analyst & Digital Asset Researcher The crypto market has had its ups and downs in 2025 but investors know that altcoins are where the real opportunities are. While Bitcoin and Ethereum are getting all the headlines, many promising altcoins are moving under the radar. August is shaping up to be a big month of 2025, with market sentiment shifting and new developments rolling out across multiple blockchain ecosystems. If you see the resistance level shown by the altcoin for holding their price during the crypto market slump of the last 5 days we can see that the altcoins have proven themselves more than the top cryptocurrencies viz. Bitcoin, Ethereum, BNB, Solana etc which means the crypto world is now ready for altcoins to shine. In this blog we are discussing 5 altcoins that are showing growth signs. Whether you are looking for hidden gems or the next big ones, these projects are worth your attention.   1. Injective (INJ) Category: DeFi / Lay...
Read more

XRP Cloud Mining in 2025: How Much Can You Earn?

Image
  Author: Jaffar Hashmi – Fintech Analyst & Digital Asset Researcher In the year 2025, the concept of earning passive income through XRP mining is largely misleading, as XRP cannot be mined like Bitcoin or Ethereum; all 100 billion tokens were pre-mined before its launch. What’s often marketed as "XRP mining" is actually cloud mining contracts for BTC or ETH, funded using XRP—offering certain convenience benefits for XRP holders. By mid-2025, numerous platforms began offering daily payout contracts starting at just $10, promising high ROI, fast payments, and ease of entry. This article explores how these contracts really work, what returns you might expect, and whether such profit claims are realistic or deceptive.   Did you know? XRP acts as a bridge currency, allowing banks to settle cross-border payments without needing to pre-fund accounts in local currencies. How XRP Cloud Mining Works By sending XRP to rent hashing power—usually for mining BTC or ETH—you avoid...
Read more

Solana vs Avalanche: Which Layer 1 Will Dominate in 2025...

Image
Author: Jaffar Hashmi – Fintech Analyst & Digital Asset Researcher As we move deeper into 2025, the competition among Layer 1 blockchains is heating up, with Solana and Avalanche emerging as two of the most prominent contenders. Both offer high-performance networks, low fees, and strong developer communities—but which one is poised to dominate in 2025? SPEED AND SCALABILITY Solana continues to stand out for its unmatched transaction throughput. With its unique Proof-of-History (PoH) mechanism combined with Proof-of-Stake (PoS), Solana processes over 65,000 transactions per second (TPS) at a fraction of a cent per transaction. This makes it ideal for high-frequency applications like DeFi and NFTs. Avalanche, on the other hand, uses a Snowman consensus protocol that offers sub-second finality and around 4,500 TPS. It’s scalable and energy-efficient but still trails Solana in raw throughput. However, Avalanche's subnet architecture gives it a unique edge: developers can cr...
Read more