Coindesk CoinDCX Denies $16 Million Hack Amid Wallet Controversy
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- •CoinDCX denies a new hack despite $16 million flagged in suspicious outflows.
- •The flagged wallets were linked to a breach from July 2025, according to CoinDCX.
- •On-chain investigator ZachXBT disputes CoinDCX's claims, citing ongoing activity in flagged wallets.
CoinDCX has denied a fresh hack after $16 million in Tether (USDT) was flagged moving from wallets linked to the exchange. Co-founder Sumit Gupta stated these addresses were compromised in a July 2025 breach and were not currently active. However, on-chain investigator ZachXBT claimed that at least one flagged address was still receiving deposits and interacting with CoinDCX's current hot wallet as recently as May 2026. The exchange acknowledged operational losses due to a failure in its process for moving deposits from deprecated addresses, which it absorbed. CoinDCX assured users that no funds from active wallets were compromised. The incident has raised alarms due to the exchange's previous hack, which resulted in a loss of $44.2 million. The situation remains under scrutiny as the investigation continues.
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