CoinDCX pledges no user losses after $16M transfer scrutiny

CoinDCX is back under the microscope. Over October 21-22, 2026, on-chain analysts spotted approximately $15.99 million in USDT, plus 5,784 TRX, moving out of wallets tied to India’s largest crypto exchange. What the blockchain showed Arkham Intelligence was first to raise the alarm. Its data showed funds leaving addresses labeled as CoinDCX deposit and hot wallets on the Tron network. After leaving those addresses, the money was split up and scattered across several centralized exchanges, including Binance, OKX, and Gate.io. CoinDCX’s explanation Co-founder Sumit Gupta moved quickly to deny any breach or user impact. According to Gupta, the wallets were created in January 2025 and were then compromised during a July 2025 incident in which CoinDCX lost $44 million from an internal liquidity wallet. Gupta said those addresses had not been used since that hack and that the exchange’s current operational addresses showed no linked outflows. Gupta also told users their funds remain secure and that trading and other services were running without interruption. ZachXBT pushes back Blockchain investigator ZachXBT was not convinced. He pointed to at least one flagged address that kept receiv...