CoinDCX Admits $16M Loss Just Days After CEO Denied Fresh Wallet Breach
One of India’s main crypto buying and selling platforms, CoinDCX, confirmed that suspicious exercise detected earlier this week in the end led to a 15.99 million USDT loss tied to pockets infrastructure compromised throughout a earlier safety incident.
The admission comes solely days after CEO Sumit Gupta publicly mentioned the change’s wallets had not been breached and recommended the alarm might be linked to attackers reusing outdated addresses.
The firm’s official October 25 replace says the staff observed uncommon exercise on October 21 and initially prevented any affect to its energetic pockets and buying and selling infrastructure.
However, they detected irregular blockchain actions shortly after and launched a deeper investigation, which decided that the exercise had affected an outdated, deprecated operational pockets infrastructure containing beforehand unknown vulnerabilities.
CoinDCX additionally found that an automatic sweeping service had failed for a while, and deposits despatched by customers to one of many deprecated addresses collected there as a substitute of being transferred into the change’s present safe pockets infrastructure.
“This led to a lack of 15.99 million USDT, which was absorbed by the corporate,” adds the assertion.
The change burdened that its energetic wallets, buying and selling methods, deposits, and withdrawals continued working usually and that buyer balances have been absolutely accounted for. Users who mistakenly deposited to deprecated addresses have been nonetheless instantly credited, whereas a separate course of was supposed to comb these funds elsewhere.
Interestingly, this acknowledgment is especially noteworthy given Gupta’s preliminary response simply three days earlier. After blockchain researchers flagged roughly $16 million in suspicious transfers, the exec said that “CoinDCX wallets will not be breached” and warned towards spreading false rumors.
He mentioned on the time that the addresses concerned had belonged to the change earlier than its July 2025 hack and had been compromised through the incident.
Thanks for highlighting however that is incorrect and CoinDCX wallets will not be breached. Pls don’t unfold rumours.
The addresses tagged by Arkham used to belong to CoinDCX earlier than the final yr hack ie July 2025. These addresses have been generated in Jan 2025 and have been compromised within the earlier hack in July 2025. The hackers appear to be re-using the outdated pockets addresses and this feels like a false alarm. We have checked all the current CoinDCX central and consumer addresses. None of them have despatched cash to those outdated addresses.
All the CoinDCX addresses are public and will be seen on our POR hyperlink. None of those have despatched funds to the above addresses in query and not one of the CoinDCX funds received compromised.
Will maintain you posted if any new information involves us because the staff is investigating it additional. More particulars to comply with from the official CoinDCX handles quickly.
— Sumit Gupta (@smtgpt) October 22, 2026
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