Key facts
- CoinDCX denied a new security breach after $16 million in transfers were flagged.
- Investigators questioned CoinDCX's claim that wallets compromised in July 2025 were no longer in use.
Indian crypto exchange CoinDCX denied a new security breach after analysts flagged $16 million in suspicious transfers. Investigators questioned the exchange's claim that it stopped using wallets compromised in July 2025, noting a deposit address remained in use for 10 months after the incident.
The allegations raise concerns about the security practices of CoinDCX and the potential for further user fund losses, impacting trust in the exchange and the broader Indian crypto market.
Indian cryptocurrency exchange CoinDCX has denied a new security breach following the flagging of suspicious transfers totaling approximately $16 million. The exchange stated that the transactions involved old wallets compromised in July 2025 and have not been used since. However, blockchain investigators have questioned this account, with one noting that a CoinDCX deposit address remained in use by a liquidity provider for 10 months after the July 2025 incident. This address reportedly continued to transfer user deposits to CoinDCX's hot wallet and receive funds for transaction fees. CoinDCX was previously drained for $44 million in July 2025, at which time the exchange assured that customer wallets were separate and that it would cover the loss from its reserves. The CEO of CoinDCX acknowledged awareness of the current situation and reiterated that no user funds would be at loss.
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