CoinDCX Denies $16 Million Hack, Tracing Flagged Wallets to Its 2025 Breach
CoinDCX co-founder Sumit Gupta has denied a contemporary breach on the Indian crypto change. A safety researcher had flagged about $15.99 million in Tether (USDT) transferring out of wallets tagged to the platform.
Gupta stated the addresses belonged to CoinDCX earlier than its July 2025 hack and had been compromised in that assault. He described the most recent alert as a possible false alarm.
A $15.8 Million Transfer Sets Off the Alarm
Darcy, chief advertising officer at safety agency Salus, raised the alert on X on October 22.
According to the submit, CoinDCX’s reported scorching pockets and a number of other deposit addresses despatched funds to a single TRON handle late on October 21 (UTC+8). The outflow totaled roughly 15.99 million USDT and 5,783.81 TRON (TRX).
The largest single switch moved about 15.82 million USDT. The receiving handle then cut up the cash throughout a number of wallets.
After a number of rounds of splitting, the funds reached deposit addresses on Binance, OKX, Gate, and different exchanges, Darcy stated.
However, CoinDCX’s management disputed that any of these wallets nonetheless belonged to the change.
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CoinDCX Traces the Flagged Wallets to Last Year’s Breach
Gupta replied to Darcy’s submit lower than three hours after it went dwell.
“Thanks for highlighting however that is incorrect and CoinDCX wallets are usually not breached. Pls don’t unfold rumours,” he said.
He defined that Arkham had tagged the addresses to CoinDCX. However, the change generated them in January 2025, they usually had been compromised in the course of the July 2025 assault.
In Gupta’s view, the hackers seem to be reusing these previous addresses. He added that the workforce checked each present central and consumer handle on the change.
None of them had despatched funds to the flagged addresses, he stated. Gupta additionally famous that each one CoinDCX addresses are public on its proof-of-reserves (PoR) web page.
The earlier breach price CoinDCX about $44.2 million in July 2025. At the time, Gupta stated attackers hit an inner pockets used for liquidity on a accomplice change, and buyer funds stayed protected.
Meanwhile, CoinDCX continues to be investigating. Gupta stated the change’s official accounts will share extra particulars quickly.
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The submit CoinDCX Denies $16 Million Hack, Tracing Flagged Wallets to Its 2025 Breach appeared first on BeInCrypto.