CoinDCX admits $15.99M loss days after denying hack claims

CoinDCX has confirmed losing 15.99 million USDT through compromised wallet infrastructure after initially rejecting claims that nearly $16 million had been stolen from the Indian cryptocurrency exchange. Summary CoinDCX confirmed losing 15.99 million USDT after initially dismissing reports of suspicious wallet transfers. A failed automated sweeping service allowed deposits to accumulate in wallets compromised during July 2025. Blockchain investigators traced continued activity through supposedly retired wallets, challenging CoinDCX’s initial explanation. CoinDCX says it absorbed the losses, leaving customer balances, active wallets, and trading services unaffected. CoinDCX, in an October 25 statement, acknowledged that an October 21 incident affected its old operational wallets, which it had retired following a $44 million security breach in July 2025. The exchange said a failure in its automated deposit-sweeping service allowed cryptocurrency to accumulate at an address that customers continued using despite instructions to switch to newer wallets. CoinDCX absorbed the resulting loss and maintained that customer balances and active trading systems were not affected. CoinDCX revers...