CoinDCX employee Rahul Agarwal arrested after hackers used his compromised credentials to siphon off $44 million in crypto.

Indian cryptocurrency exchange CoinDCX is at the center of a major cybercrime investigation after Bengaluru police arrested employee Rahul Agarwal in connection with a July 2025 hack that drained about $44 million (roughly Rs 380 crore) in crypto from the platform. Agarwal, a 30‑year‑old software engineer and long‑time staff member at CoinDCX operator Neblio Technologies, was detained after an internal probe and police investigation concluded that hackers had used his compromised login credentials to access internal systems and move funds to external wallets. According to reports, the breach began with a small test transfer of 1 USDT on July 19 before attackers siphoned the bulk of the assets to six wallets later that morning. Local media and company representatives describe the incident as a sophisticated social‑engineering and malware attack rather than an inside job, with Agarwal allegedly tricked via a fake part‑time job or job‑task scam into installing malware on his company‑issued laptop. This compromised device reportedly provided access to internal wallet infrastructure used for liquidity operations, though CoinDCX has stated that customer funds remained safe and that the loss was confined to internal accounts. CoinDCX’s CEO has framed the event as a server or social‑engineering breach and the firm has launched a recovery program with an $11 million bounty to trace and recover the stolen assets, underscoring growing concerns about employee‑targeted attacks and operational security risks at centralized exchanges.

✨ AI-generated background, compiled from web sources — not editorial content.

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