Indian cryptocurrency exchange CoinDCX suffered a major hack on Friday, with attackers draining $44 million by breaching an internal server. The compromised account was used for liquidity provision with another exchange, according to the company.

CoinDCX CEO Sumit Gupta confirmed that no user funds were affected, assuring that customer wallets were entirely isolated from the breached operational account. The financial loss will be fully covered using the company’s treasury reserves.

The attacker reportedly funded their address with 1 Ether from Tornado Cash and transferred stolen assets from Solana to Ethereum, as revealed by blockchain investigator ZachXBT.

Security analysts were quick to point out an eerie coincidence—WazirX, another Indian exchange, was hacked for $235 million on the exact same date a year ago. The back-to-back July breaches highlight the persistent vulnerabilities in the crypto ecosystem, especially within centralized exchanges.

The CoinDCX hack joins a growing list of recent high-profile attacks in the crypto sector. Iranian platform Nobitex lost $100 million in a politically driven breach on June 18, carried out by a group called "Gonjeshke Darande," which later leaked its source code online.

Earlier this month, decentralized platform GMX V1 on Arbitrum was exploited for $40 million, but the hacker later returned the full amount in exchange for a $5 million white hat bounty.

Just this week, Arcadia Finance became another victim after a smart contract exploit led to $3.5 million in losses.

These incidents serve as a stark reminder of the ongoing cybersecurity risks plaguing crypto exchanges, where even isolated systems can become multimillion-dollar targets for attackers.