Latest news with #NFT&MetaverseTracker
Time of India
6 days ago
- Business
- Time of India
CoinDCX resumes withdrawals after $44 million security breach, assures user funds are safe
Mumbai: India's crypto exchange CoinDCX has opened withdrawals on its platform and asserted that no user funds were affected after it suffered a $44 million (~₹300 crore) security breach on its platform last month, cofounder and CEO Sumit Gupta told ET. "For us retaining the users trust and ensuring that their funds were 100% safe was our topmost priority. We ensured that all customer withdrawal requests were honoured and there was no impact on the functioning of platform," Gupta said. Explore courses from Top Institutes in Please select course: Select a Course Category Finance PGDM Data Science MCA Cybersecurity Degree Public Policy Technology Product Management healthcare Artificial Intelligence Healthcare Data Analytics Management Operations Management CXO others Project Management Leadership Design Thinking MBA Digital Marketing Others Data Science Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details "This was our wake-up call. The attack was not on our core systems but on a third-party service we used for wallet management. Still, we take full responsibility." Crypto Tracker TOP COIN SETS Crypto Blue Chip - 5 -4.79% Buy Web3 Tracker -10.47% Buy DeFi Tracker -12.39% Buy NFT & Metaverse Tracker -13.74% Buy AI Tracker -14.67% Buy TOP COINS (₹) XRP 261 ( 7.51% ) Buy Ethereum 309,245 ( 4.14% ) Buy Solana 14,343 ( 3.09% ) Buy BNB 66,066 ( 2.72% ) Buy Bitcoin 10,018,394 ( 1.81% ) Buy Post the incident, the platform has not only arrested investor churn but also recorded its highest-ever monthly trading volume, he said. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Gupta also pushed back against media speculation around a possible $900 million acquisition by global exchange Coinbase, asserting that CoinDCX is on path to be India's first crypto decacorn (valued at $10 billion) and such "petty" valuations do not justify the company's growth trajectory. Live Events "Our annualised revenue today stands at ₹1,179 crore and we have nearly ₹10,000 worth of crypto assets under custody across products," Gupta said, adding that the company's current valuation must be more than $2 billion. "We hold 80% market share among India's centralised exchanges. But this is just scratching the surface. Once the Indian government brings an official crypto policy, we could easily achieve decacorn status within a year," he said.
Time of India
01-08-2025
- Business
- Time of India
How can we leverage AI for risk management & Stop Loss strategies in crypto trading
Artificial Intelligence (AI) includes machine learning, data analysis, and automation . These areas are of particular interest in crypto trading. With the help of AI, vast amounts of real-time and historical market data from the 24-hour crypto market can be analyzed to optimize profits and minimize losses. Popular crypto trading bots are one example of AI in crypto trading . However, more advanced AI solutions can be leveraged for better risk management and optimal profit. How can AI be leveraged in crypto trading? Explore courses from Top Institutes in Please select course: Select a Course Category Cybersecurity Others PGDM Product Management others CXO Finance Degree Technology Healthcare Data Science Leadership Design Thinking healthcare MCA Data Analytics Operations Management Public Policy Management Digital Marketing Artificial Intelligence MBA Project Management Data Science Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Want to know more? click here Undo AI can enhance risk management and stop-loss strategies in crypto trading by analyzing historical and real-time data, identifying patterns and trends that enable traders to make more informed decisions. These decisions can be executed dynamically, meaning they can be updated as soon as, or as often as, needed. The data may include price fluctuations, market volatility, market sentiment, and other relevant factors. AI can also automate trading decisions based on stop-loss and take-profit strategies. It brings speed, automation, and the ability to analyze vast amounts of data. This allows traders to manage risk more efficiently and adjust their strategies in line with current market conditions. Ultimately, AI ensures every trade is executed instantly with minimal delay. Crypto Tracker TOP COIN SETS BTC 50 :: ETH 50 -2.07% Buy Smart Contract Tracker -3.92% Buy Web3 Tracker -7.03% Buy DeFi Tracker -9.21% Buy NFT & Metaverse Tracker -10.23% Buy TOP COINS (₹) Bitcoin NaN ( -3.37% ) Buy BNB 67,741 ( -3.79% ) Buy Ethereum 318,780 ( -5.95% ) Buy XRP 259 ( -6.04% ) Buy Solana 14,816 ( -6.69% ) Buy What is risk management? Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Risk management is a systematic approach to identifying, assessing, and mitigating the potential for financial loss in cryptocurrency trading. Market volatility, liquidity risk, cybersecurity threats, market manipulation, and regulatory risks all contribute to this risk. Accurately studying and analyzing these elements can help mitigate them. Live Events As part of a risk management strategy, it's crucial to understand volatility, the risk-to-reward ratio (potential profit versus potential loss), and position sizing (how much to allocate to a single trade). AI assists traders in all these areas by offering relevant data and clear analysis. How can AI help in risk management in crypto trading? Among risk management strategies, stop-loss and take-profit orders are the most important. They allow a trader to set limits on acceptable loss or desired profit. Once the stop-loss level is hit, the trade is executed automatically, and the trader exits the position—thanks to AI and software automation. Similarly, take-profit orders enable traders to set profit targets at which they are ready to exit. This helps them lock in gains before market volatility can erode profits. Other strategies include diversification, proper position sizing, and avoiding emotional trading—all areas where AI can provide assistance and improve decision-making. How can AI be integrated into crypto trading? One of the most popular examples of AI integration in crypto trading is the use of automated trading bots . These bots offer stop-loss and take-profit functions and execute trades based on predefined parameters. They can be integrated into cryptocurrency exchanges through APIs. More advanced AI solutions involve deploying custom-trained AI models with specific trading objectives and goals. Final Thoughts AI and crypto can be a match made in heaven. Both are emerging, powerful technologies. Crypto trading is known for high volatility, where speed and precision are crucial. AI delivers both—offering deep data analysis and rapid automation. From basic trading bots to sophisticated AI tools, traders can now better manage risks and enhance the performance of their stop-loss and take-profit strategies. (The author, Vugar Usi Zade is the COO at Bitet) ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
21-07-2025
- Business
- Time of India
CoinDCX launches India's largest crypto recovery bounty after Rs 368 crore Hack
CoinDCX has launched India's largest recovery bounty in the crypto sector, offering up to 25% of recovered funds as a reward to anyone who provides actionable information that helps retrieve assets lost in a recent security breach. The move comes after the exchange suffered a hack involving approximately $44.2 million (Rs 368 crore) from one of its internal operational accounts. Explore courses from Top Institutes in Select a Course Category Up to $11 Million in Rewards for Recovery As part of the CoinDCX Recovery Bounty Program, the exchange is inviting ethical hackers, white-hat researchers, and ecosystem partners to assist in the recovery effort. The bounty could go up to $11 million in case of a full recovery of the stolen funds. CoinDCX said it will reward those who help not only in asset retrieval but also in identifying and aiding the conviction of those responsible for the breach. Crypto Tracker TOP COIN SETS NFT & Metaverse Tracker 19.97% Buy Smart Contract Tracker 19.67% Buy DeFi Tracker 15.85% Buy BTC 50 :: ETH 50 13.00% Buy Web3 Tracker 9.24% Buy TOP COINS (₹) Ethereum 326,249 ( 2.09% ) Buy BNB 65,839 ( 2.02% ) Buy XRP 308 ( 1.67% ) Buy Bitcoin 10,268,448 ( 0.92% ) Buy Tether 86 ( 0.12% ) Buy "This is not just about us. This is about standing up for what's right, for the safety, transparency, and future of the entire Web3 ecosystem," CoinDCX said in a release. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Live Events The company added that it is already working with external cybersecurity partners and the affected exchange to trace and recover the funds. Funds Traced to Public Wallets CoinDCX confirmed that most of the stolen assets are currently held in two wallets: - Solana wallet holding approximately 155,830 SOL (~$27.6 million) - Ethereum wallet holding about 4,443 ETH (~$15.7 million) The company said it is collaborating closely with firms including Sygnia, zeroShadow, and Seal911, and acknowledged support from the Solana Foundation, Superteam, and bridge partners Wormhole and deBridge. The exchange said the bounty program is part of a broader effort to strengthen trust and resilience in the crypto ecosystem following the breach, which was disclosed earlier this month. While the breach affected an internal account, CoinDCX has clarified that customer assets remain safe and were not impacted. 'Cybercrime is an attack on trust. When one of us is targeted, all of us are affected,' said Khandelwal. 'We will emerge from this stronger, together.' Interested individuals and organizations can participate in the program by contacting bountyprogram@ . CoinDCX said all credible contributions will be evaluated and rewarded fairly.
Time of India
21-07-2025
- Business
- Time of India
How safe are your crypto assets after CoinDCX's Rs 368 crore hack?
India's leading cryptocurrency exchange, CoinDCX , recently suffered a security breach resulting in a loss of approximately $44.2 million (Rs 368 crore). While the company quickly reassured users that no customer assets were affected, the incident has reignited concerns over the security of crypto platforms and what more must be done to protect users in an increasingly hostile cyber environment. What happened? Explore courses from Top Institutes in Select a Course Category Public Policy Technology Data Science Data Science MCA Cybersecurity CXO Operations Management Others Management Project Management Healthcare Leadership Finance Degree PGDM Digital Marketing Product Management Artificial Intelligence others MBA Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details CoinDCX disclosed on Saturday that one of its internal operational accounts — used for liquidity provisioning on a partner exchange — was compromised following a "sophisticated server breach." The company emphasized that the breach was limited to this internal wallet and did not impact user funds . 'Today, one of our internal operational accounts — used only for liquidity provisioning on a partner exchange — was compromised due to a sophisticated server breach,' said Sumit Gupta, Co-founder and CEO, in a post on X. 'I confirm that the CoinDCX wallets used to store customer assets are not impacted and are completely safe.' Crypto Tracker TOP COIN SETS NFT & Metaverse Tracker 18.12% Buy DeFi Tracker 16.19% Buy AI Tracker 13.55% Buy Crypto Blue Chip - 5 10.28% Buy Web3 Tracker 9.18% Buy TOP COINS (₹) Ethereum 327,471 ( 3.83% ) Buy XRP 307 ( 3.62% ) Buy BNB 65,914 ( 3.03% ) Buy Bitcoin 10,294,933 ( 1.35% ) Buy Tether 86 ( 0.08% ) Buy The compromised account was isolated quickly, and CoinDCX stated that it would absorb the entire loss from its treasury, with no impact on customers. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Live Events Services remain stable, but questions linger Despite the breach, CoinDCX said that trading and INR withdrawals continued without interruption. However, some users reported issues accessing their portfolios due to increased server traffic, which were later resolved. Meanwhile, blockchain analysts such as ZachXBT and cybersecurity firm Cyvers flagged the breach hours before the official announcement. The attacker reportedly transferred stablecoins (USDC and USDT) from Solana to Ethereum and used Tornado Cash to obscure the trail — a common tactic used to evade tracking. Experts stress the need for stronger industry norms The incident has raised concerns among industry experts, who say more robust, industry-wide security standards are critical. 'The CoinDCX incident is a sobering reminder that no platform is immune to evolving cyber threats,' said Aishwary Gupta, Global Head of Payments at Polygon Labs. 'While it's commendable that user funds remained safe, this highlights the urgent need for industry-wide adoption of real-time monitoring, rigorous smart contract audits, and transparent incident disclosures. Security and user trust must go hand-in-hand as we build the next generation of financial infrastructure.' CoinDCX response and roadmap In response to the attack, CoinDCX said it is working with external cybersecurity experts and the affected partner exchange to identify vulnerabilities and trace the stolen assets. Gupta also mentioned plans to launch a bug bounty program to detect system flaws before they can be exploited. 'Our internal security and operations teams have been working through the day along with leading cybersecurity partners to investigate the matter, patch any vulnerabilities, and trace the movement of funds,' Gupta added. The company has not disclosed whether law enforcement or regulatory bodies have been engaged, but said updates will be shared with the community in real time. Why this matters This incident comes nearly a year after WazirX — another major Indian exchange — suffered a breach involving over $230 million. While WazirX paused withdrawals and faced criticism for delayed communication, CoinDCX's decision to take full financial responsibility may set a new benchmark for user-first accountability. The broader concern now is whether crypto platforms are equipped to match the pace of increasingly sophisticated cyber threats — and whether India's regulatory framework can evolve quickly enough to safeguard retail investors. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
21-07-2025
- Business
- Time of India
System vs System: Why crypto needs a culture of relentless security
In the early years of crypto, the dominant narrative was often adversarial: crypto vs. traditional systems, decentralization vs. control, innovation vs. regulation. But that framing is no longer useful—nor is it accurate. What we are witnessing today is not a battle of ideology, but of resilience. This shift reflects a growing realization: the long-term viability of crypto depends on building systems that are not just open and inclusive, but fundamentally secure. In this new age, cybersecurity isn't a support function—it is the foundation. Whether you're an exchange safeguarding billions in user assets, a developer launching a smart contract, or a retail investor using self-custody wallets, security determines whether your system can withstand stress, fraud, and attacks. Without traditional intermediaries, the burden of protection moves to the edge—to platforms, protocols, and people. Explore courses from Top Institutes in Select a Course Category others Data Science Artificial Intelligence Project Management CXO MCA Management Public Policy Finance Others Degree PGDM MBA Healthcare Cybersecurity Product Management Design Thinking Data Analytics Digital Marketing Data Science Leadership Operations Management Technology healthcare Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More A recent scam I discussed on X illustrates the risks we face when this responsibility is ignored. On the surface, it appears harmless: someone shares a wallet seed phrase on a forum or in a comment section, asking for help withdrawing funds. Curious users import the wallet and see a balance—often in stablecoins like USDT or DAI. The catch? There's no native token for gas fees. Driven by the urge to extract the funds, users send ETH or TRX to enable the transfer. Instantly, those tokens are drained by bots monitoring the wallet. The user thought they were exploiting a mistake—when in fact, they were the target all along. Crypto Tracker TOP COIN SETS DeFi Tracker 14.53% Buy NFT & Metaverse Tracker 14.45% Buy AI Tracker 12.41% Buy Crypto Blue Chip - 5 9.25% Buy Web3 Tracker 8.35% Buy TOP COINS (₹) Ethereum 324,357 ( 4.16% ) Buy BNB 65,693 ( 2.83% ) Buy XRP 300 ( 2.1% ) Buy Bitcoin NaN ( 0.44% ) Buy Tether 86 ( 0.05% ) Buy This isn't a flaw in the blockchain. It's a flaw in human behavior. There was no technical breach—just psychological bait and an ecosystem not yet equipped to protect people from themselves. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » These types of scams are becoming more frequent and more sophisticated. They don't rely on code exploits, but on exploiting curiosity, greed, and a lack of security awareness among everyday users. That's why building a security-first culture across the Web3 ecosystem is non-negotiable. We cannot wait for regulators or law enforcement to react. The responsibility begins with us—the builders, founders, and platforms that power this industry. Live Events While platforms must improve on the security front, no amount of backend protection can compensate for a lack of user awareness. If crypto is about empowerment, that empowerment must come with education. We need public campaigns, product nudges, default safety mechanisms, and consistent messaging that puts user protection front and center. Security should not be something users opt into—it should be something they cannot opt out of. The ultimate question we must ask is this: when the pressure rises, which systems will hold—and which will fail? The answer won't depend on hype cycles, price rallies, or even regulation. It will depend on how well we've designed our infrastructure, protocols, and user journeys to withstand inevitable threats. In a world where financial systems are increasingly digital and decentralized, we are not just competing on innovation—we are competing on integrity. Crypto will not succeed because it is new. It will succeed because it is stronger. And that strength will come from one thing above all else: security. (Neeraj Khandelwal is co-founder of CoinDCX)
