The recent $44 million hack on CoinDCX hasn’t just blown a hole through the company’s "safest exchange in India" narrative—it’s exposed a darker underbelly of crypto public relations, influencer manipulation, and opportunistic hypocrisy. For those who’ve watched CoinDCX operate over the past few years, the breach wasn’t just a security failure. It was karma.
When WazirX Was Attacked, CoinDCX Played Dirty
When WazirX suffered a major cyberattack exactly 1 year ago on July 18, 2024, it responded with regular user updates, affidavits in court, law enforcement cooperation, and a visible roadmap for recovery. But instead of showing industry solidarity, CoinDCX seized the moment to push WazirX down.
A coordinated influencer campaign followed—funded and promoted through CoinDCX’s PR channels. Influencers were paid to post hit pieces, amplify user panic, and paint WazirX as “irresponsible” and “non-transparent,” despite the platform’s proactive disclosures. CoinDCX, though not always directly named, clearly benefited from the erosion of WazirX’s reputation—and leaned into it.
The goal? Position themselves as India’s most “trusted,” “regulated,” “safest,” and “secure” crypto exchange.
But When CoinDCX Got Hacked… Silence Turned to Spin
In July 2025, the tables turned. CoinDCX was hacked for over ₹368 crore ($44 million). And suddenly, those same influencers who tore WazirX apart were NOW applauding CoinDCX for “transparency,” despite the fact that:
CoinDCX waited nearly 17 hours after blockchain analysts flagged suspicious activity to acknowledge the breach.
Their statement was vague, offering no audit report, no clear security roadmap, and no proof that user funds were untouched.
Claims that “user funds are safe” were repeated endlessly—but NEVER substantiated with hard data.
Yet instead of holding them accountable, the same PR machinery that once fueled outrage went into overdrive praising CoinDCX.
It was as if the script had flipped—only this time, truth and accountability were secondary to preserving CoinDCX’s brand.
CoinDCX Hypocrisy Is Blinding
CoinDCX has long claimed to be India’s most safest exchange. But the hack has shattered that illusion. More importantly, it has revealed a mindset: that perception matters more than protection.
Even now, the exchange seems more focused on controlling the narrative than operational recovery. Instead of joining calls for stronger industry-wide security protocols or offering transparent post-mortems, CoinDCX has launched a flashy “crypto bug bounty” campaign—more PR theatre than genuine restitution.
And while WazirX continues its legally structured restructuring with court oversight, CoinDCX’s efforts remain clouded by ambiguity, delays, and influencer-driven optics.
Karma Hits Where It Hurts
In the crypto space, reputations are earned through integrity, not by paying media. CoinDCX’s attempts to sabotage WazirX during its toughest hour, only to now ask for empathy during its own crisis, reeks of hypocrisy. The irony is hard to ignore: everything they accused others of, they are now guilty of themselves.
Time to See Through the PR Smoke
The real threat to Indian crypto users isn’t just hackers—it’s misinformation wrapped in influencer tweets and marketing spin. CoinDCX’s $44 million hack should be a wake-up call. Not just about platform security, but about the narratives users are fed.
Trust isn’t built with hashtags. It’s built with facts, accountability, and a track record of putting users before optics. And in that regard, CoinDCX still has a lot to answer for.
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