CoinDCX denies hack, blames broken clean up job for $16 million outflow

CoinDCX denies its active wallets were hacked after sleuths flagged $16 million in outflows from addresses linked to the India-based exchange.

CoinDCX denied that its active wallets were compromised after blockchain investigators flagged $16 million in suspicious outflows from addresses linked to the Indian crypto exchange.

The exchange said the transactions involved addresses compromised in a July 2025 hack, but an investigator said at least one continued to receive deposits and interact with CoinDCX’s current wallet into 2026.

CoinDCX acknowledged that a temporary failure in its process for moving deposits from retired addresses caused operational losses, which it absorbed after crediting affected users.

Every user gets a personal deposit address, a unique string of characters to send crypto to. The exchange then regularly "sweeps" those deposits, meaning it moves them into its own main wallets so everything sits in one place it controls. Some of that money goes to a hot wallet, an internet-connected place used for everyday withdrawals. The rest goes to cold wallets, which are kept offline.

All of it was sent to a single Tron address, Darcy said, with the largest transaction at 15,819,002 USDT. That address then split the money across several different wallets.

Darcy's post flagged the outflow as a suspected theft, raising fears of a fresh hack at the exchange. CoinDCX was exploited before , in July 2025, for $44 million.

CoinDCX’s CEO Sumit Gupta pushed back on X, saying the July 2025 hackers seem to be reusing the old wallet addresses and calling it a false alarm.

In other words, CoinDCX’s position is that the exchange abandoned those addresses after the hack and that the hackers are the ones still using them.

ZachXBT, a well-known on-chain investigator, challenged that claim . He said at least one of those addresses, labeled TQKJQ was still in use.

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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.

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