UPDATE: CoinDCX absorbs operational loss after 8.93M USDT moved to exchanges
CIE News ·
Update to CoinDCX disputes alleged $16 million wallet exploit flagged by researchers
Based on reporting by crypto.news; not yet independently confirmed.
CoinDCX co-founder Sumit Gupta said the exchange absorbed an operational loss after an old wallet leaked deposits, with 8.93 million USDT moved to outside exchanges.
CoinDCX co-founder Sumit Gupta stated that the exchange absorbed an operational loss after a retired wallet erroneously received user deposits due to an internal sweeping failure, following earlier reports of an alleged $16 million exploit. Analysts including ZachXBT and Salus researcher Darcy reported that 8.93 million Tether (USDT) of the consolidated funds was routed across Binance, OKX, and Gate on October 22, 2026. Denying a new system breach, Gupta explained that the address was compromised in a July 2025 incident, though ZachXBT questioned the explanation after finding the wallet interacted with active hot wallets months later.
Key facts
- 8.93M USDT routed to exchanges
- CoinDCX absorbed loss
- Sweeping mechanism failed
- System breach denied
Read the original at crypto.news