New Delhi, July 20 -- CoinDCX, one of India's largest crypto exchanges, confirmed a major security breach after hackers wiped out approximately $44 million from the platform.

The attack happened early Saturday.

However, CoinDCX founders have assured customers that their assets are safe and losses will be covered by treasury reserves.

The Mumbai-based crypto exchange clarified that the attack does not impact wallets used to store customer assets.

The compromised account was used "exclusively" for liquidity provisioning on a partner exchange.

"Today, one of our internal operational accounts - used only for liquidity provisioning on a partner exchange - was compromised due to a sophisticated server breach," said CoinDCX Co-founder, Sumi...