Decrypt· Guillermo Jimenez·· 5d ago
CoinDCX confirms $16 million loss after internal process failure, reversing CEO's earlier denial
Original source: DecryptRead original
AI brief
CoinDCX admitted losing approximately $16 million in USDT after an internal sweep process failed to move customer deposits out of retired wallets following a 2025 hack. The admission reverses CEO Sumit Gupta's prior claim that breach reports were a "false alarm," bringing the exchange's total losses across two incidents to nearly $60 million.
Source: Decrypt · decrypt.co