CoinDCX flags a phishing attack, days after confirming a compromised wallet
In this news:
Key takeaways
- CoinDCX warned users about a phishing campaign using unofficial emails and notices.
- The exchange advised users never to share private keys, seed phrases, or OTPs.
- Experts point to regulatory gaps and vulnerabilities in the crypto space.
CoinDCX issues phishing warning
Crypto exchange CoinDCX flagged a phishing attack on Tuesday, days after confirming a compromised wallet siphoning user funds to the amount $16 million from non-CoinDCX users.
On October 27, CoinDCX warned of scammers sending notices and emails to users, directing recipients to external links, prompting wallet connections and seeking account information as other exchanges investigate similar activity. For the interim, the exchange has asked users not to trust any message that diverts users outside the exchange website.
“We’re aware of a phishing campaign in which unofficial notifications and emails are being sent to users, urging them to click external links. Please do not click on any unverified links, connect your wallet, or enter account details on any site that isn’t the official CoinDCX platform,” said CoinDCX via its social media platform X.
Exchange security and user concerns
The exchange also talked of similar reports from other exchanges. It stressed that the exchange will never ask users to share private keys or seed phrases, ask for OTP, send links to withdraw funds.
Following the confirmation, many users took to X complaining of how “users can’t catch a break” and the impact on user trust. The exchange has been dealing with such grievances since July 2025, when a compromised wallet led to a $44 million data breach.
According to experts like Sharat Chandra, Founder, EmpowerEdge Ventures, such incidents highlight the blatant vulnerabilites in the crypto space, primarily due to a lack of regulation.
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