CoinDCXhas confirmed a massive security breach, resulting in a loss of approximately $44 million from one of its internal operational accounts. The CoinDCX hack, which was executed through a highly sophisticated server breach, has not only shocked the digital asset world but also raised urgent questions about the security frameworks of even the most reputed exchanges.
The incident, which came to light on Friday night, was officially acknowledged by CoinDCX co-founder and CEO Sumit Gupta via a public statement on Saturday. In a reassuring tone, Gupta emphasized that no user funds were affected due to the isolated nature of the compromise:
“The incident was quickly contained by isolating the affected operational account. Since our operational accounts are segregated from customer wallets, the exposure is only limited to this specific account and is being fully absorbed by us, from our own treasury reserves.”
Still, the magnitude of the CoinDCX hack has left the Indian crypto community rattled, not just for its financial implications but for the timing, which coincidentally matches a similar incident from the previous year.
Anatomy of the CoinDCX Hack: A Sophisticated Cyberstrike
The attacker reportedly gained unauthorized access to an internal CoinDCX account used for liquidity provisioning with another unnamed exchange. Blockchain investigator ZachXBTrevealed further details on X (formerly Twitter), stating:
“The attacker’s wallet was funded with 1 Ether via Tornado Cash, and the stolen funds were later bridged from Solana to Ethereum.”
The use of Tornado Cash, a known cryptocurrency mixing service that obfuscates transaction trails, has once again triggered alarm bells across global financial watchdogs. Tornado Cash has already been under intense scrutiny by the U.S. Treasury for enabling illicit transactions, and its involvement in the CoinDCX hack adds yet another troubling chapter to its controversial existence.
🚨BREAKING 🚨
CoinDCX may have lost $44.2 million in a hack.
About 17 hours ago, crypto investigator @zachxbt reported that Indian exchange @CoinDCX was drained.
Stolen funds were sent to these addresses: 6peRRbTz28xofaJPJzEkxnpcpR5xhYsQcmJHQFdP22n… pic.twitter.com/SWyc499bfx
A Haunting Coincidence: WazirX Breach on the Same Date
Perhaps the most chilling detail of the CoinDCX hack is its unfortunate coincidence with another major Indian crypto breach. Exactly one year ago on the same date, fellow Indian exchange WazirXsuffered a cyberattack that resulted in a staggering loss of $235 million. This uncanny alignment in dates has prompted renewed fears of a targeted trend or anniversary-style hacking approach within the Indian digital asset sector.
Crypto analyst Infinity Hedge commented on the eerie timing:
“This isn’t just a coincidence. Two of India’s largest exchanges, hacked on the same date a year apart? It warrants deeper investigation.”
How CoinDCX Handled the Breach
To its credit, CoinDCX responded swiftly. According to Gupta, the compromised operational wallet was isolated within minutes of detection. The breach was reportedly confined to internal liquidity operations and did not affect customer wallets, which are stored separately under multi-layered security protocols.
Gupta further reassured users by stating:
“All affected amounts are being fully absorbed from our treasury, and we’ve already started a full-scale investigation with third-party cybersecurity firms.”
No user withdrawals were frozen, and platform access remained uninterrupted — a sharp contrast to similar attacks on other platforms where user activity is typically suspended for days or weeks.
Other Major Hacks in the Past 30 Days
The CoinDCX hack is just one of several high-profile breaches that have shaken the global crypto world in recent weeks:
Nobitex (Iran): Hacked for $100 million in a politically-motivated attack by a pro-Israel hacker group, Gonjeshke Darande. The attackers also leaked the source code of the exchange.
GMX V1 Protocol (Arbitrum Network): Suffered a loss of $40 million but the attacker later returned the stolen funds in exchange for a $5 million white hat bounty.
Arcadia Finance (DeFi): Lost $3.5 million due to a smart contract exploit, highlighting the vulnerabilities in decentralized finance protocols.
These incidents further underline how crypto exchanges, whether centralized or decentralized, continue to face an unrelenting barrage of cyber threats.
What Makes the CoinDCX Hack Stand Out?
While numerous exchanges have been hacked, the CoinDCX hack stands apart for several reasons:
It occurred at a time of heightened regulation and scrutiny in India.
The timing aligns with the WazirX breach from a year ago.
The hacker’s method involved advanced blockchain routing, obfuscation tools, and multi-chain fund transfers.
CoinDCX’s quick containment of the breach demonstrated operational maturity.
Yet, these strengths do not excuse the fact that one of the country’s largest exchanges could still fall prey to such an attack. In a market striving for legitimacy, the event casts a shadow on India’s crypto security preparedness.
Regulatory and Legal Aftermath
Although CoinDCX has yet to release full details regarding the investigation, it is expected that the breach will draw regulatory scrutiny from the Reserve Bank of India (RBI) and possibly from international watchdogs, especially due to the use of Tornado Cash.
Legal experts also predict that CoinDCX may be required to file a formal breach notification under India’s Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011.
The Road Ahead: Can CoinDCX Rebuild Trust?
Despite absorbing the financial hit internally and maintaining user operations, CoinDCX now faces the daunting task of restoring user trust. The exchange has built a solid reputation as one of India’s top platforms, backed by investors like Coinbase Ventures and Polychain Capital. But in the crypto world, reputation is fragile.
This event could either:
Cement CoinDCX’s status as a transparent and responsible player, or
Mark the beginning of a gradual erosion of confidence among its users and stakeholders.
A Wake-Up Call for the Indian Crypto Ecosystem
The CoinDCX hack serves as a sobering reminder that even industry leaders are not immune to advanced cyber threats. As India’s crypto adoption grows, exchanges will need to go beyond token security gestures and implement real-time blockchain analytics, zero-trust architecture, and third-party code audits.
There’s also a need for collaborative cybersecurity frameworks involving regulators, exchanges, white-hat hackers, and even global intelligence bodies to fend off increasingly sophisticated digital attacks.
Final Thoughts: Lessons From the CoinDCX Hack
The CoinDCX hack isn’t just about the loss of $44 million — it’s about the loss of complacency. It’s a call to arms for all crypto stakeholders, from developers and investors to regulators and end-users.
Crypto, by design, promises freedom from traditional financial constraints — but that freedom comes with risk. And until security becomes a non-negotiable foundation, we will continue to hear stories of funds lost, trust broken, and opportunities squandered.
For now, CoinDCX’s ability to quickly respond and absorb the damage sets it apart from others. But whether the industry learns from this remains to be seen.
ServiceNow’s acquisition of Armis marks the company’s biggest deal to date as cybersecurity consolidation accelerates.
ServiceNow has agreed to acquire cybersecurity startup Armis for $7.75 billion, marking the largest acquisition in ServiceNow’s history as it accelerates its expansion into security and artificial intelligence.
The Santa Clara, California–based company will pay all cash for the San Francisco–based firm, according to a statement released Tuesday, confirming an earlier report by Bloomberg News. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.
Market reaction and deal financing
ServiceNow shares slipped about 1.3% in early premarket trading in New York following the announcement. The stock had closed up roughly 0.9% on Monday, valuing the company at approximately $163 billion.
ServiceNow said it plans to fund the acquisition through a combination of cash on hand and debt, underscoring its confidence in Armis’ long-term growth and strategic value.
What Armis brings to ServiceNow
Founded by veterans of Israeli military cyber intelligence, Armis specializes in identifying, monitoring and securing connected devices across complex digital environments. Its platform is widely used in sectors including healthcare, financial services, manufacturing, and defense, where visibility into unmanaged or vulnerable devices is critical.
Earlier this month, Armis CEO Yevgeny Dibrov said the company had reached $300 million in annual recurring revenue, up from $200 million a year earlier. Despite the rapid growth, Armis had been planning a public listing in 2026, a goal now superseded by the ServiceNow deal.
ServiceNow’s broader AI and security push
ServiceNow has been steadily transforming itself into a dominant enterprise workflow and automation platform. In March, the company agreed to acquire AI startup Moveworks for $2.85 billion, a move aimed at building autonomous AI tools capable of completing workplace tasks without human intervention.
“ServiceNow is building the security platform of tomorrow,” said Amit Zavery, the company’s president, chief operating officer, and chief product officer.
“Together with Armis, we will deliver an industry-defining cybersecurity shield that provides real-time, end-to-end proactive protection across all technology estates,” Zavery said.
Cybersecurity dealmaking accelerates
The Armis acquisition comes amid a surge in large cybersecurity transactions, driven by growing enterprise demand and the rising use of AI to detect and counter hacking threats.
In recent months:
Alphabet agreed to buy cloud security firm Wiz for $32 billion
Palo Alto Networks struck a deal to acquire CyberArk for about $25 billion
Armis itself was acquired in 2020 by Insight Partners in a deal valued at $1.1 billion, alongside investors including CapitalG. Private equity firm Thoma Bravo had also explored a potential investment, with Armis executives previously saying they were evaluating multiple offers.
What’s next
Once completed, the acquisition is expected to significantly strengthen ServiceNow’s security portfolio, positioning the company as a key player in AI-powered enterprise cybersecurity at a time when digital infrastructure risks are multiplying.
Disney’s partnership with OpenAI signals how major studios may integrate AI into content, merchandising, and fan engagement
When Disney announced a three-year alliance with OpenAI, including a reported $1 billion investment and licensing its iconic characters for use in AI-generated images and short videos, the deal left many observers puzzled. After all, recent content partnerships between OpenAI and platforms like Reddit have raised uncomfortable questions about whether the money is worth the long-term competitive and brand risks.
But Disney’s deal makes far more sense when viewed through a lens the company understands better than almost anyone: merchandising.
For decades, Disney has mastered the art of turning intellectual property into obsession, engagement, and spending. Toys, backpacks, lunchboxes, theme parks, movies, cruise lines — all are part of a tightly controlled ecosystem designed to keep fans immersed. With OpenAI, Disney isn’t abandoning that playbook. It’s updating it.
Instead of plastic figurines, the new merchandise is synthetic content — AI-generated images and videos created by fans themselves using ChatGPT and Sora, OpenAI’s text-to-video generator. Anyone can now generate Disney-adjacent creative output, but under rules that Disney helps define.
AI as the Next Merchandising Channel
At first glance, allowing fans to generate content featuring Disney characters may appear risky, especially for a company long known as a highly curated, “predator-free” brand sanctuary in an internet dominated by chaotic user-generated content — or what critics increasingly call “AI slop.”
Yet this is precisely why Disney’s approach stands out.
Rather than fighting AI outright, Disney is licensing its characters under controlled conditions, positioning itself inside the technology rather than outside it. In doing so, it gains something arguably more valuable than licensing fees: influence over how its IP is used.
OpenAI has publicly committed to “responsible use” of Disney’s content, reducing the risk of beloved characters being placed in offensive, bizarre, or legally risky scenarios — or interacting with rival corporate IPs in ways Disney cannot control.
At the same time, Disney has made it clear it will aggressively defend its characters elsewhere. The company recently sent a letter to Google demanding it stop using Disney characters in AI-generated content without permission. The message is clear: AI use is allowed — but only on Disney’s terms.
Strategic Upside Beyond Licensing
Beyond brand protection, the OpenAI alliance offers Disney several strategic advantages.
First, by taking an equity stake, Disney is effectively hitching its future to the first major AI mover in consumer-facing generative technology. If OpenAI becomes as foundational as search or social media, Disney isn’t just a customer — it’s a stakeholder.
Second, Disney gains access to OpenAI’s tools, opening new creative and operational possibilities across film, television, marketing, and theme park experiences. In an industry under constant pressure to produce more content faster, AI-assisted workflows could become a competitive necessity.
There is also a discovery angle. If fans create something genuinely magical using Disney IP, the company can surface that work on its streaming platforms or internal creative pipelines. Just as YouTube became a feeder system for Hollywood talent, AI could quietly become a testing ground for future Pixar, Marvel, or animation concepts.
Engagement Over Everything
Critics will argue that Disney is aligning itself with what many still see as the entertainment industry’s newest villain. And history suggests that user-generated ecosystems inevitably produce strange, uncomfortable, or downright bizarre content.
But Disney’s calculus is simple: engagement beats purity.
Even if some brand dilution occurs, the upside of keeping millions of users actively interacting with Disney characters — thinking about them, remixing them, and emotionally investing in them — far outweighs the risks. Every AI-generated image or short video becomes another touchpoint in the Disney funnel, nudging users toward movies, merchandise, theme parks, and subscriptions.
As the company has proven time and again, Disney doesn’t need to control every moment — it just needs to own the ecosystem those moments live in.
A Template for Future AI Deals
Ultimately, Disney’s OpenAI alliance may become the template for how major IP holders navigate the AI era. Rather than blocking generative tools outright or selling content libraries cheaply, Disney is treating AI as the next distribution and merchandising layer.
The pipeline that once ran from movies to toys to theme parks now runs through algorithms, prompts, and synthetic media. AI is no longer outside the business. It is part of the machine.
And if Disney’s history is any guide, once the House of Mouse embraces a platform, it rarely lets go.
After Losing Over $70 Billion, Mark Zuckerberg Finally Admits His Biggest Bet Is “Not Working” – Meta Plans Massive Cuts to Metaverse Budget
Meta’s multibillion-dollar Metaverse dream faces a harsh reset as Zuckerberg prepares to slash Reality Labs spending by 30% and shift focus toward AI superintelligence
After years of mounting losses, Meta prepares to slash Metaverse spending as Zuckerberg pivots the company toward AI superintelligence.
It has taken more than $70 billion in losses, multiple years of market skepticism, slow hardware adoption, and declining enthusiasm from consumers — but Mark Zuckerberg finally seems to be acknowledging what analysts have been predicting for months: Meta’s Metaverse gamble is not working as expected.
A new report from Bloomberg reveals that Meta is preparing to cut Reality Labs’ budget by nearly 30%, marking the most significant shift in strategy since the company rebranded from Facebook to Meta in 2021. These cuts are part of Meta’s 2026 annual budget plans, discussed at a series of executive meetings held last month at Zuckerberg’s Hawaii compound.
The move represents a dramatic retreat from the vision that defined Zuckerberg’s ambitions for the future — a world of interconnected virtual experiences accessed through VR headsets, smart glasses, and immersive environments.
Reality Labs: A Costly Dream That Failed to Take Off
Reality Labs, the division responsible for Meta’s Metaverse ambitions, includes:
VR hardware such as the Quest headsets
Ray-Ban smart glasses developed with EssilorLuxottica
Horizon Worlds, Meta’s VR social platform
Upcoming AR glasses
Despite years of R&D and aggressive marketing, the Metaverse never reached mainstream adoption. Sales remained modest, interest faded, and Horizon Worlds failed to retain users beyond niche gaming communities.
Industry analysts say the lack of traction is undeniable. The Metaverse that Zuckerberg promised — a bustling, interconnected digital universe — simply hasn’t materialized.
The financial impact has been staggering: $70+ billion in operating losses across four years, making it one of the most expensive product bets in tech history.
Not surprisingly, Meta’s stock jumped 4% after news of the possible budget cuts, signaling investor relief. As analyst Craig Huber put it: “Smart move, just late… This is a major shift to align costs with a revenue outlook that never matched management’s expectations.”
With cuts as deep as 30%, layoffs are expected as soon as January, especially within the VR division.
A Company Pivoting Hard Toward AI Superintelligence
Meta’s Metaverse retreat isn’t happening in isolation — it comes at a time when the company is fighting to stay competitive in the global AI arms race.
After its Llama 4 model received a lukewarm response, Meta has ramped up spending and reorganized its AI divisions under the new Superintelligence Labs.
Key highlights of Meta’s AI pivot:
Up to $72 billion committed in capital spending for AI initiatives this year
Aggressive hiring across Silicon Valley, with multimillion-dollar offers made directly by Zuckerberg
Plans to invest $600 billion in U.S. infrastructure and jobs over the next three years, largely for AI data centers
A renewed push to build the compute infrastructure needed for future superintelligent systems
Zuckerberg openly stated during an earnings call that Meta is “front-loading capacity” to prepare for an AI-driven future.
Even Reality Labs is being reimagined through the AI lens — especially after Zuckerberg hired Alan Dye, a longtime Apple design executive, to lead a new creative studio within the division.
In a post on Threads, Zuckerberg said: “We’re entering a new era where AI glasses and other devices will change how we connect with technology and each other.”
This statement alone signals how deeply AI will shape Meta’s hardware roadmap beyond the Metaverse.
The Irony: Meta Was Renamed for a Vision That Is Now Shrinking
When Facebook became Meta in October 2021, the reasoning was clear: the company wanted to symbolize its commitment to building the Metaverse.
Three years later, that same division is facing massive cuts.
The rebranding — once touted as the gateway to the “next chapter of the internet” — now represents one of the most expensive strategic misfires in tech history.
What Comes Next for Meta?
If the proposed budget cuts go through:
VR development may significantly slow down
Horizon Worlds could receive limited investment
AR glasses may remain in early stages
Meta will prioritize AI innovation over virtual reality
This shift doesn’t necessarily mean Meta is abandoning the Metaverse entirely — but it is no longer the company’s primary bet.
Zuckerberg’s new focus is clear: AI superintelligence, compute hardware, and next-generation devices powered by AI.
And while the Metaverse may have faded from the spotlight, Meta’s aggressive push into AI signals a new chapter — one where Zuckerberg hopes the investment will pay off sooner rather than later.
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