The Daily Crypto Brief!
CoinDCX Hit by $44M Hack🤯
GM readers. We’re back with the latest crypto updates—so you stay ahead.
CoinDCX Hit by $44M Hack—Turns Out It Was an Inside Job
CoinDCX, an Indian crypto exchange, has reportedly been hacked for around $44.2 million, as shared by blockchain investigator ZachXBT and security firm Cyvers. CEO Sumit Gupta confirmed the breach and said that customer funds are safe. The problem came from an internal wallet used for trading with a partner exchange—not one used by users.
ZachXBT explained that the hacker started by sending 1 ETH through Tornado Cash (a tool that hides transaction details) and then moved funds from Solana to Ethereum. This shows they used a planned method across different blockchains to hide the money.
Hungary Criminalizes Unregistered Crypto Trading
Unlicensed crypto exchange operators could now face up to 8 years in jail, while large-scale traders without proper registration could get up to 5 years.
The goal is to stop illegal crypto activities, but exchanges that follow the rules can still operate. However, the lack of clear details in the law has made the market a bit unsure.
Once the EU’s MiCA regulations are fully in place by 2026, crypto exchanges with official EU licenses will be allowed to operate in Hungary.
Crypto Market Crosses $4 Trillion as Bitcoin and Ethereum See Big Money Inflows
The total value of all cryptocurrencies touched $4 trillion on Friday morning.
Bitcoin alone reached a market cap of $2.4 trillion, while Ethereum hit $440 billion, thanks to rising interest from big investors.
Bitcoin ETFs brought in $522.6 million on Thursday, marking the second week in a row with over $2 billion in total inflows. Most of that came from BlackRock’s IBIT, which captured $497.3 million just that day.
Former Rugby Star Jailed Over $900K Crypto Mining Scam
Shane Donovan Moore, a former semi-pro rugby player, has been sentenced to 30 months in jail for scamming over 40 people out of $900,000.
Moore claimed he had crypto mining machines and promised investors 1% daily returns. But the equipment didn’t exist. He used the money for luxury spending and to pay back earlier investors—classic Ponzi scheme tactics.
Judge Tana Lin said Moore caused serious emotional and mental harm to the victims through his lies and manipulation.
Thats a wrap for today folks! Catch you soon with more updates on crypto.
