Latest news with #ByBit
India.com
22-07-2025
- Business
- India.com
Rs 1900000000000 lost in a year due to…., loss suffered by many including…
Indian cryptocurrency exchange CoinDCX has reported a security breach that led to the theft of $44.2 million (around Rs 378 crore). However, the company's founders took to X to reassure users that customer funds remain safe and unaffected, clarifying that the breach was limited to an internal operational account. CoinDCX Hit By USD 44.2 mn Security Breach The total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves, the company said in a First Incident Report released on Sunday. According to the report, on July 19, at 4 AM IST, CoinDCX security systems detected an incident involving unauthorised access to one of its accounts on the partner exchange, leading to a financial exposure of about USD 44 million. The incident once again puts the spotlight on mounting security threats in the highly volatile world of cryptocurrencies. Last year, crypto exchange WazirX faced a hack in India, leading to the loss of more than USD 230 million, and marking one of the biggest such heists in India. The theft had prompted a thorough examination of safety measures and eroded sentiments. CoinDCX On Attack CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal took to the social media platform X to address the situation, confirming that the attack was the result of a sophisticated server breach, targeting an internal wallet, not the ones holding customer assets. The incident was first flagged by blockchain investigator ZachXBT, following which the exchange made the disclosure public. 'Today, one of our internal operational accounts — used only for liquidity provisioning on a partner exchange — was compromised due to a sophisticated server breach. I confirm that the CoinDCX wallets used to store customer assets are not impacted and are completely safe. This won't cause any loss to our customers. CoinDCX will be bearing the full amount,' Gupta said. 'The total amount lost was USD 44Mn out of our treasury assets. Coindcx Treasury will be bearing these losses,' Khandelwal wrote. Affected infrastructure has been completely isolated, and CoinDCX operations continue to run normally, the company said. Risk In Crypto Currency Investment Crypto thefts in 2025 had already crossed USD 2.17 billion before last week's USD 44 million CoinDCX hack, underlining relentless cyber threat escalation in the digital currency world, according to the latest data. Blockchain analytics platform Chainalysis' 2025 crypto crime mid-year update says that over USD 2.17 billion was stolen from cryptocurrency services so far in 2025, and 'this year is more devastating than the entirety of 2024'. By the end of June 2025, 17 per cent more value had been stolen year-to-date (YTD) than in 2022, previously the worst year on record. The USD 1.5 billion hack of ByBit, the largest single hack in crypto history, accounts for the majority of service losses. So far in 2025, significant concentrations of stolen fund victims have emerged in the US, Germany, Russia, Canada, Japan, Indonesia, and South Korea, it said. 'Regionally, Eastern Europe, MENA, and CSAO (Central and Southern Asia and Oceania) saw the most rapid H1 2024 to H1 2025 growth in victim totals,' it said. (With Inputs From PTI)
Economic Times
21-07-2025
- Business
- Economic Times
Mid-year update: Crypto thefts top $2.17 billion in 2025, shows data
AP Crypto thefts in 2025 had already crossed USD 2.17 billion before last week's USD 44 million CoinDCX hack, underlining relentless cyber threat escalation in the digital currency world, according to the latest data. Blockchain analytics platform Chainalysis' 2025 crypto crime mid-year update says that over USD 2.17 billion was stolen from cryptocurrency services so far in 2025, and "this year is more devastating than the entirety of 2024". By the end of June 2025, 17 per cent more value had been stolen year-to-date (YTD) than in 2022, previously the worst year on record. The $1.5 billion hack of ByBit, the largest single hack in crypto history, accounts for the majority of service losses. So far in 2025, significant concentrations of stolen fund victims have emerged in the US, Germany, Russia, Canada, Japan, Indonesia, and South Korea, it said. "Regionally, Eastern Europe, MENA, and CSAO (Central and Southern Asia and Oceania) saw the most rapid H1 2024 to H1 2025 growth in victim totals," it said. The report revealed that threat actors who have compromised services tend to exhibit higher levels of sophistication than those targeting personal wallets. At USD 1.5 billion, the ByBit hack not only represents the largest crypto theft in history, but also accounts for approximately 69 per cent of all funds stolen from services this year, Chainalysis said. "The sophistication and scale of this attack underscore the evolving capabilities of state-sponsored threat actors in the crypto space, and comes after a notable slowdown in the second half of 2024," it added. The report assumes significance in the backdrop of Indian cryptocurrency exchange CoinDCX suffering a security breach, resulting in theft of USD 44.2 million, or Rs 378 crore. CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal took to the social media platform X to reassure that customer funds remained unaffected and safe, with the compromise limited to an internal operational account. The total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves, the company said in a First Incident Report released on Sunday. Last year, crypto exchange WazirX faced a hack in India, leading to the loss of more than USD 230 million, and marking one of the biggest such heists in India. The theft had prompted a thorough examination of safety measures and eroded sentiments. Among other notable cryptocurrency thefts are those involving Cetus Protocol, which saw losses estimated between USD 200-260 million in May this year, and BigONE, which suffered a theft of USD 27 million in July 2025. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. From near bankruptcy to blockbuster drug: How Khorakiwala turned around Wockhardt Paid less than plumbers? The real story of freshers' salaries at Infy, TCS. What if Tata Motors buys Iveco's truck unit? Will it propel or drag like JLR? As deposit ground slips under PSU banks' feet, they chase the wealthy If data is the new oil, are data centres the smokestacks of the digital age? Stock Radar: M&M likely to break out from 1-year consolidation range; time to buy? Will consumer stocks see a comeback this festive season? 12 stocks to keep an eye on even when analysts are not bullish Don't fear volatility, focus on businesses: 5 mid-cap stocks from different sectors with upside potential of up to 27% Best way to deal with volatility, just ' Hold' for wealth creation: 7 large-cap stocks with an upside potential of up to 41%
Time of India
21-07-2025
- Business
- Time of India
Mid-year update: Crypto thefts top $2.17 billion in 2025, shows data
Academy Empower your mind, elevate your skills Crypto thefts in 2025 had already crossed USD 2.17 billion before last week's USD 44 million CoinDCX hack , underlining relentless cyber threat escalation in the digital currency world, according to the latest analytics platform Chainalysis ' 2025 crypto crime mid-year update says that over USD 2.17 billion was stolen from cryptocurrency services so far in 2025, and "this year is more devastating than the entirety of 2024".By the end of June 2025, 17 per cent more value had been stolen year-to-date (YTD) than in 2022, previously the worst year on $1.5 billion hack of ByBit, the largest single hack in crypto history, accounts for the majority of service far in 2025, significant concentrations of stolen fund victims have emerged in the US, Germany, Russia, Canada, Japan, Indonesia, and South Korea, it said."Regionally, Eastern Europe, MENA, and CSAO (Central and Southern Asia and Oceania) saw the most rapid H1 2024 to H1 2025 growth in victim totals," it report revealed that threat actors who have compromised services tend to exhibit higher levels of sophistication than those targeting personal USD 1.5 billion, the ByBit hack not only represents the largest crypto theft in history, but also accounts for approximately 69 per cent of all funds stolen from services this year, Chainalysis said."The sophistication and scale of this attack underscore the evolving capabilities of state-sponsored threat actors in the crypto space, and comes after a notable slowdown in the second half of 2024," it report assumes significance in the backdrop of Indian cryptocurrency exchange CoinDCX suffering a security breach, resulting in theft of USD 44.2 million, or Rs 378 co-founders Sumit Gupta and Neeraj Khandelwal took to the social media platform X to reassure that customer funds remained unaffected and safe, with the compromise limited to an internal operational total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves, the company said in a First Incident Report released on year, crypto exchange WazirX faced a hack in India, leading to the loss of more than USD 230 million, and marking one of the biggest such heists in India. The theft had prompted a thorough examination of safety measures and eroded other notable cryptocurrency thefts are those involving Cetus Protocol, which saw losses estimated between USD 200-260 million in May this year, and BigONE, which suffered a theft of USD 27 million in July 2025.
Time of India
21-07-2025
- Business
- Time of India
Crypto security: Crypto thefts in 2025 surpass $2.17 billion; India's CoinDCX breach adds to global surge driven by ByBit mega heist
Crypto thefts have crossed a staggering $2.17 billion in the first half of 2025, already eclipsing the full-year toll of 2024, according to blockchain analytics firm Chainalysis. The sharp spike in crypto-related crime highlights growing vulnerabilities in digital asset platforms, with large-scale, sophisticated attacks becoming increasingly frequent. The figure, which excludes last week's $44.2 million (Rs 378 crore) breach at Indian exchange CoinDCX, marks a 17% jump in year-to-date (YTD) losses over 2022—the previous worst year for crypto thefts, PTI reported. Chainalysis' mid-year crypto crime report attributes the majority of these losses to the $1.5 billion ByBit exploit, the single largest crypto hack in history. That attack alone accounted for nearly 69% of total crypto service thefts in 2025. "The sophistication and scale of this attack underscore the evolving capabilities of state-sponsored threat actors in the crypto space, and comes after a notable slowdown in the second half of 2024," the report said. The report identifies major victim regions as the US, Germany, Russia, Canada, Japan, Indonesia and South Korea. Eastern Europe, MENA, and Central and Southern Asia and Oceania (CSAO) saw the most rapid growth in the number of victims from H1 2024 to H1 2025. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo In India, CoinDCX confirmed in its First Incident Report on Sunday that the breach was limited to an internal operational account, and all customer funds remained secure. 'The total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves,' co-founders Sumit Gupta and Neeraj Khandelwal said on social media platform X. The CoinDCX incident comes less than a year after WazirX lost over $230 million in a cyberattack, prompting scrutiny of crypto platform security in India. Other major global hacks this year include Cetus Protocol (losses of $200–260 million in May) and BigONE (a $27 million theft in July), Chainalysis noted. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
21-07-2025
- Business
- News18
Mid-year update: Crypto thefts top USD 2.17 billion in 2025, shows data
New Delhi, Jul 21 (PTI) Crypto thefts in 2025 had already crossed USD 2.17 billion before last week's USD 44 million CoinDCX hack, underlining relentless cyber threat escalation in the digital currency world, according to the latest data. Blockchain analytics platform Chainalysis' 2025 crypto crime mid-year update says that over USD 2.17 billion was stolen from cryptocurrency services so far in 2025, and 'this year is more devastating than the entirety of 2024". By the end of June 2025, 17 per cent more value had been stolen year-to-date (YTD) than in 2022, previously the worst year on record. The USD 1.5 billion hack of ByBit, the largest single hack in crypto history, accounts for the majority of service losses. So far in 2025, significant concentrations of stolen fund victims have emerged in the US, Germany, Russia, Canada, Japan, Indonesia, and South Korea, it said. 'Regionally, Eastern Europe, MENA, and CSAO (Central and Southern Asia and Oceania) saw the most rapid H1 2024 to H1 2025 growth in victim totals," it said. The report revealed that threat actors who have compromised services tend to exhibit higher levels of sophistication than those targeting personal wallets. At USD 1.5 billion, the ByBit hack not only represents the largest crypto theft in history, but also accounts for approximately 69 per cent of all funds stolen from services this year, Chainalysis said. 'The sophistication and scale of this attack underscore the evolving capabilities of state-sponsored threat actors in the crypto space, and comes after a notable slowdown in the second half of 2024," it added. The report assumes significance in the backdrop of Indian cryptocurrency exchange CoinDCX suffering a security breach, resulting in theft of USD 44.2 million, or Rs 378 crore. CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal took to the social media platform X to reassure that customer funds remained unaffected and safe, with the compromise limited to an internal operational account. The total exposure is being absorbed entirely by CoinDCX, using the company's treasury reserves, the company said in a First Incident Report released on Sunday. Last year, crypto exchange WazirX faced a hack in India, leading to the loss of more than USD 230 million, and marking one of the biggest such heists in India. The theft had prompted a thorough examination of safety measures and eroded sentiments. Among other notable cryptocurrency thefts are those involving Cetus Protocol, which saw losses estimated between USD 200–260 million in May this year, and BigONE, which suffered a theft of USD 27 million in July 2025. PTI MBI ANK MR MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 21, 2025, 17:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
