India's largest crypto exchange CoinDCX absorbs $16 million loss from retired wallet process failure

CoinDCX acknowledged a $15.99 million loss after user deposits accumulated in a retired wallet address linked to a 2025 security breach. Blockchain investigators flagged suspicious outflows in October 2026, which CoinDCX initially dismissed as false alarms. The exchange later confirmed that a sweeping service meant to move funds from the deprecated address to its primary wallet failed for a period, causing the loss. All user funds remain safe in cold storage.