In This Article
- CoinDCX CEO Calls Exchange Hack "A Sophisticated Social Engineering Attack"
- $44 Million Drained From CoinDCX With No Official Recovery Plan Yet Announced - Coinbase To Acquire The Troubled Exchange?
- BONUS: Bitcoin Hyper (HYPER) Hits Landmark $6 Million In Presale Funding: Could HYPER Be The Biggest Presale This Year?
- How To Join The Bitcoin Hyper Presale Before It's Too Late:
An employee of CoinDCX, a cryptocurrency exchange that was hacked for $44 million in mid-July, was arrested in India in connection with the security breach, according to multiple local reports. It has since come out that Coinbase is looking to buy CoinDCX at around a $1 billion valuation.
Bengaluru City police detained CoinDCX software engineer Rahul Agarwal after hackers allegedly gained access to his login credentials, allowing them to siphon the exchange’s assets, as reported by The Times of India on Thursday.
Breaking 🚨 :- A software engineer at CoinDCX, Rahul Agarwal, has been arrested in connection with the Rs 379-crore cryptocurrency theft reported by the company. Investigations revealed that hackers compromised Agarwal's login credentials to access the system and siphon off $44… pic.twitter.com/4m28veuQnI
— Money Guru Digital (@Moneygurudigi) July 31, 2025
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CoinDCX CEO Calls Exchange Hack “A Sophisticated Social Engineering Attack”
The arrest followed a complaint and an internal investigation by CoinDCX’s operator, Neblio Technologies, which found that Agarwal’s credentials had been compromised via his work laptop, granting unauthorized access to the company’s servers.
During questioning, as his laptop was seized, Agarwal, 30, denied any involvement in the theft but acknowledged taking on part-time work for up to four private clients while still employed at CoinDCX.
CoinDCX referred to a post on X by CoinDCX co-founder and CEO Sumit Gupta, who stated that the exchange cannot engage with the media due to an ongoing investigation.
“Based on our internal preliminary findings, this appears to be a sophisticated social engineering attack,” Gupta said, adding that employees are often targeted in such incidents.
A spokesperson for CoinDCX urged the media and the public to refrain from speculation or circulating unverified information, as it may hinder the ongoing investigation.
According to Neblio’s vice president for public policy, Hardeep Singh, Bengaluru police reported that the arrested employee was a permanent staff member who had been issued a laptop strictly for his role at CoinDCX.
Some media reports have surfaced referencing the FIR we filed with the Karnataka Police regarding the security incident that impacted our platform.
As this is an ongoing investigation, we unfortunately cannot engage with the media or public on this issue. We want to ensure the…
— Sumit Gupta (CoinDCX) (@smtgpt) July 31, 2025
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$44 Million Drained From CoinDCX With No Official Recovery Plan Yet Announced – Coinbase To Acquire The Troubled Exchange?
Agarwal came under investigation after Neblio discovered that an unknown individual had hacked the system during the night on July 19 and transferred 1 USDt stablecoin to a wallet. Later that morning, hackers drained $44 million in assets from the exchange before transferring the funds to six different wallets.
A LinkedIn profile purported to be Agarwal’s indicates that he has been with CoinDCX for over two years, building his career in the DevOps domain. He began as a senior software engineer in May 2023, working remotely from Bengaluru, Karnataka. After two years in this role, he was promoted to staff engineer in April 2025, a position he currently holds and performs on-site.
According to The Indian Express, police stated that hackers tricked Agarwal into installing malware on his office laptop. This news comes days after CoinDCX CEO Gupta reported that the exchange was hacked on July 19.
He asserted that no user funds were impacted by the exploit, explaining that the hackers compromised one of CoinDCX’s internal accounts used for “liquidity provisions” with another exchange through a server breach.
Now, rumors are swirling that Coinbase is in advanced talks to buy CoinDCX and expand its footprint into India as a result. Neither side has confirmed nor denied the claims, but the same sources believe Coinbase wants to seal the deal for a figure under $1 billion.
🚨Coinbase in talks to acquire India's CoinDCX after $44M breach pic.twitter.com/KmQRqVZyUK
— India’s Story (@Indiaat2100) July 29, 2025
BONUS: Bitcoin Hyper (HYPER) Hits Landmark $6 Million In Presale Funding: Could HYPER Be The Biggest Presale This Year?
Now more than ever, Bitcoin Hyper (HYPER) is being thrust into the spotlight, as Bitcoin continues to hover just under its all-time high level of $122,800, and is currently trading for around $118,000. The explosion of the leading digital asset and its new highs are drawing significant attention, with HYPER benefiting from that attention as a Bitcoin Layer-2 protocol.
The HYPER team aims to deliver a comprehensive end-to-end ecosystem of products to the Bitcoin mainnet, encompassing DeFi, GameFi, and NFTs, among other sectors, as part of its development.
HYPER smartly utilizes the Solana Virtual Machine (SVM) for its Layer 2 protocol. By bringing its L2 infrastructure to Bitcoin, HYPER will benefit from the low fees and super-fast speeds of being associated with Solana.
Bitcoin Hyper is building its L2 infrastructure with innovative roll-up technology. The team’s recent announcement of full integration with the SVM as the execution layer on HYPER, coupled with the utilization of rollups, will facilitate fast transactions, low fees, and real-time execution without making any changes to Bitcoin’s tried and tested core base layer.
The early hype and demand for Bitcoin Hyper have led many within the community to wonder whether HYPER could be listed on Coinbase in the near future.
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How To Join The Bitcoin Hyper Presale Before It’s Too Late:
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To become a HYPER presale investor, visit the Bitcoin Hyper presale website to learn more and possibly join the HYPER train. You can make your purchase using ETH, USDT, BNB, or a bank card.
Best Wallet is a brand-new web3 wallet that offers the most seamless purchasing experience. HYPER is already featured in the mobile app’s ‘Upcoming Tokens’ section, and Best Wallet offers simplified token management and early access to HYPER and other presale gems.
Investors can also stake their HYPER tokens for a juicy 168% APY in rewards, providing a perfect opportunity for passive income while waiting for the Bitcoin Hyper ICO to come to a close.
There are fewer than 36 hours until the HYPER presale moves onto its next price stage, meaning its current price of $0.01225 will be a thing of the past.
For the latest updates on all things HYPER, join the community on Telegram and X.
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