CoinDCX confirms $16 million USDT loss after disputed breach report

CoinDCX confirmed a $16 million USDT loss on Oct. 25, three days after its CEO disputed reports of a new wallet breach. The loss stemmed from a failed automated sweeping process that deposited funds to deprecated addresses, leaving customer deposits exposed. Blockchain analytics firm Bitquery traced $15.8 million to one address and $2.2 million frozen by Tether, with funds moving to Binance, OKX, and Gate.