CoinDCX CEO Sumit Gupta has sharply criticized both WazirX and Phemex for their lack of transparency regarding recent security breaches. He argues that if these exchanges had disclosed their vulnerabilities like Bybit, the Safe{wallet} infra vulnerability could have been detected earlier, potentially preventing the Bybit hack. Gupta’s comments come after a wave of hacks impacting prominent crypto platforms, with WazirX and Phemex facing separate incidents in 2024. Notably, both these breaches utilized Gnosis Safe multisig wallets to exploit delegatecall vulnerabilities for illicit transactions. While Bybit proactively disclosed the attack details, allowing other exchanges to improve security protocols, Gupta argues for similar open disclosure by WazirX and Phemex. He emphasized that such transparency could have played a crucial role in preventing further attacks. Despite these criticisms, CoinDCX emphasizes its robust security measures, including the avoidance of Gnosis Safe wallets and manual transaction approval, as strategies against similar exploits.