hackers stole ₹378 crore from Indian crypto exchange CoinDCX by breaching one of its internal operational accounts.
While the company assures that customer funds remain unaffected and will be reimbursed from its own reserves, the incident highlights glaring vulnerabilities in India’s top crypto platforms.
The crypto exchange CoinDCX breach isn’t just a financial blow—it’s a warning signal.
It proves that even well-established exchanges with firewalled systems can be silently compromised, raising serious concerns about cybersecurity readiness in the crypto sector.
Cryptocurrency in India operates in a legal grey area.
It is not illegal….. but it is even not regulated.
Investors can trade digital currencies like Bitcoin and Ethereum, but cannot use them as legal tender for goods or services.
Since 2022, the government has imposed a 30% tax on crypto profits and a 1% TDS on all transactions, but no clear consumer protection framework exists.
Adding to the risk is the absence of strict penalties for cyber breaches in India.
This lack of accountability enables repeated incidents with minimal consequences.
As crypto remains unregulated, investors face increasing exposure to fraud and financial loss.
Isn’t it time for India to regulate—or reconsider—crypto trading altogether?
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