India’s CoinDCX Confirms $16 Million Loss Days After CEO Called It a ‘False Alarm’
Crime · First reported 25 Oct, 18:46 · Updated 22:08
CoinDCX confirmed a loss of 15.99 million USDT from retired wallets and said it had absorbed the loss while customer balances remained unaffected. The admission followed the CEO’s earlier dismissal of breach reports as a false alarm.
- CoinDCX said 15.99 million USDT, approximately $16 million, was drained on October 21 through its wallet infrastructure.
- The exchange attributed the loss to an internal process failing to move residual customer deposits out of retired wallets.
- CoinDCX said it absorbed the loss and that customer funds remained safe; combined losses from the incident and a 2025 hack approached $60 million.
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