CoinDCX disputes alleged $16 million wallet exploit flagged by researchers
CIE News ·
Confirmed by 3 independent news outlets.
CoinDCX denied reports of a new $16 million exploit after on-chain transfers of USDT and TRX, attributing the activity to addresses compromised in July 2025. Investigator ZachXBT disputed the exchange's explanation.
Indian cryptocurrency exchange CoinDCX has denied claims of a fresh security breach following reports of approximately $16 million in anomalous outflows. Blockchain investigator Darcy flagged transactions on October 21, 2026, where roughly 15.99 million Tether (USDT) and 5,783.81 TRON (TRX) were moved from addresses tagged by Arkham as CoinDCX to a TRON address. The largest single transfer was 15,819,002 USDT, and the receiving address subsequently routed funds through intermediaries into Binance, OKX, and Gate.
On October 22, 2026, CoinDCX co-founder and CEO Sumit Gupta disputed allegations of a new breach, stating that customer funds are safe. Gupta explained that the flagged addresses were created in January 2025, were compromised during a July 2025 incident, and were being reused by the attackers. CoinDCX stated that it checked its active operational and user wallets, verifying that no funds were sent from them to the flagged addresses.
Blockchain investigator ZachXBT challenged CoinDCX's explanation, noting that at least one flagged deposit address remained in use by a liquidity provider for about 10 months following the July 2025 incident. ZachXBT reported that the address continued handling deposits and interacting with CoinDCX's active hot wallets months after the initial breach, according to crypto.news.
Key facts
- ~$16M outflows flagged
- CoinDCX denies new hack
- Addresses tied to July 2025 breach
- ZachXBT disputes exchange claims
Read the original at BeInCrypto