CoinDCX denies new hack claims after $16M in suspicious wallet transfers flagged
CoinDCX disputes allegations of a fresh $16M breach, attributing flagged transfers to wallets compromised in a July 2025 hack, while investigator ZachXBT says at least one address remained active months later.
Why it matters
The dispute highlights ongoing challenges in verifying exchange wallet security and the difficulty users face when on-chain data conflicts with exchange statements. Resolution could affect trust in India's largest crypto exchange and set precedent for how historical wallet compromises are disclosed.
Where the sources disagree
Whether compromised wallet addresses remained active after July 2025 hack
Addresses have not been used by CoinDCX since July 2025 compromise
Crypto.News, Cointelegraph, TheNewsCrypto, CoinDesk
At least one address remained active and interacted with current hot wallet 10 months after breach
Crypto.News, Cointelegraph, CoinDesk
CoinDCX says the addresses have not been used since the July 2025 breach, while ZachXBT says at least one address continued receiving deposits and interacting with current hot wallets for months afterward.
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
amount taken
$16 million
Crypto.News
$44 million
Cointelegraph
Crypto.News reports $16 million, Cointelegraph reports $44 million (64% apart).
amount taken
$16 million
Bitcoin Insider
$44 million
Cointelegraph
Bitcoin Insider reports $16 million, Cointelegraph reports $44 million (64% apart).
amount taken (flagged)
$44 million
Cointelegraph
$16 million
TheNewsCrypto
Cointelegraph reports $44 million, TheNewsCrypto reports $16 million (64% apart).
amount taken (retired wallets)
$44 million
Crypto.News
$16 Million
Bitcoin Insider
Crypto.News reports $44 million, Bitcoin Insider reports $16 Million (64% apart).
Key facts
Blockchain investigators flagged approximately $16 million in suspicious transfers from wallet addresses linked to CoinDCX on October 21, 2026.
16,000,000 USDDisputed figureReported by Crypto.News
CoinDCX denied a new security breach and said the flagged wallet addresses were compromised in the July 2025 hack and have not been used by the exchange since.
Disputed figureReported by Crypto.News
ZachXBT claimed at least one compromised deposit address continued handling deposits and interacting with CoinDCX's current hot wallet for months after the July 2025 breach.
Disputed figureReported by Crypto.News
CoinDCX CEO Sumit Gupta said the exchange is investigating the claims and assured no user funds will be lost.
Reported by Crypto.News
CoinDCX acknowledged a temporary failure in its process for moving deposits from retired addresses caused operational losses that the exchange absorbed after crediting affected users.
Reported by CoinDesk
CoinDCX suffered a $44 million hack in July 2025.
44,000,000 USDDisputed figureReported by Cointelegraph
Darcy of FlashRescue flagged about $16 million in transfers from addresses labeled as belonging to CoinDCX and claimed two addresses in CoinDCX's latest proof of reserves transferred funds to the flagged Tron address.
16,000,000 USDDisputed figureReported by Cointelegraph
The flagged transactions involved approximately 15.99 million USDT and 5,783.81 TRX.
15,990,000 USDReported by TheNewsCrypto
What happened
Indian exchange CoinDCX denied a new security breach after blockchain investigators flagged approximately $16 million in USDT and TRX transfers from wallet addresses linked to the platform. CoinDCX stated the addresses were created in January 2025, compromised during its July 2025 hack, and have not been used since. Blockchain investigator ZachXBT challenged this account, asserting that at least one deposit address continued receiving user deposits and interacting with CoinDCX's current hot wallet for months after the 2025 incident. CoinDCX CEO Sumit Gupta acknowledged the claims and said the exchange is investigating, assuring no user funds will be lost. The exchange also acknowledged a temporary process failure in moving deposits from retired addresses that caused operational losses it absorbed. The July 2025 breach had drained $44 million from CoinDCX.
How the story developed
- Update
Blockchain investigators flag $16M in suspicious transfers from CoinDCX-linked wallets
Darcy and ZachXBT identify approximately $16M in USDT and TRX transfers from addresses labeled as CoinDCX wallets
- First report
First report by Crypto.News
CoinDCX denies second hack claims as ZachXBT questions wallet activity
- Official statement
CoinDCX issues statement denying new breach
Exchange says flagged wallets were compromised in July 2025 hack and have not been used since
- Update
ZachXBT challenges CoinDCX explanation
Investigator claims at least one compromised address continued handling deposits and interacting with current hot wallet months after 2025 breach
- Independent corroboration
Independently corroborated by Cointelegraph
CoinDCX pledges no user losses after $16M transfers draw scrutiny
- Update
CoinDCX CEO Sumit Gupta responds to ZachXBT
Gupta acknowledges claims and says exchange is investigating further, assures no user funds will be lost
- Update
CoinDesk reports CoinDCX acknowledges operational losses from retired address process failure
Exchange confirms temporary failure in moving deposits from retired addresses caused losses it absorbed
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 22 Oct 2026, 09:27 UTC: Crypto.News — 1 independent source, 1 reports
- 22 Oct 2026, 09:29 UTC: Bitcoin Insider — 2 independent sources, 2 reports
- 22 Oct 2026, 10:53 UTC: Cointelegraph — 3 independent sources, 3 reports
- 22 Oct 2026, 11:54 UTC: TheNewsCrypto — 4 independent sources, 4 reports
- 23 Oct 2026, 08:02 UTC: CoinDesk — 5 independent sources, 5 reports
- 25 Oct 2026, 19:02 UTC: CryptoPotato — 6 independent sources, 8 reports
Affected entities
Also mentioned: Base, Cardano, Chainlink
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Crypto.News Crypto media | CoinDCX denies second hack claims as ZachXBT questions wallet activity | Original | |
| CoinDesk Crypto media | India's largest exchange denies hack after sleuths pointed to $16 million in suspicious outflows | Independent | |
| Cointelegraph Crypto media | CoinDCX pledges no user losses after $16M transfers draw scrutiny | Independent | |
| Crypto.News Crypto media | CoinDCX admits $15.99M loss days after denying hack claims | Independent | |
| CryptoPotato Crypto media | CoinDCX Admits $16M Loss Just Days After CEO Denied Fresh Wallet Breach | Independent | |
| TheNewsCrypto Crypto media | CoinDCX Rejects New $16M Security Breach Claims, Says Old Wallet Activity Is Unrelated | Syndicated | |
| Bitcoin Insider Aggregator | CoinDCX Disputes Reports of New $16 Million Hack, Points to 2025 Breach | Syndicated | |
| Bitcoin Insider Aggregator | $16 Million Lost From Retired Wallets, CoinDCX Admits After CEO Dismissed Breach | Syndicated |
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