CoinDCX Confirms $16 Million Loss Due to Retired Wallet Process Failure
Current overview (not historical)
India's largest crypto exchange CoinDCX has confirmed a $16 million loss stemming from the failure to retire an old wallet, dispelling earlier claims that the incident was a false alarm. Initially, CEO Sumit Gupta dismissed related reports as misinformation, but the exchange later admitted that internal cleanup processes failed after a 2025 breach, leaving residual funds in a decommissioned wallet. On-chain investigator ZachXBT noted that the wallet continued to receive user deposits and transfer them to the exchange's hot wallet as late as April 2026. CoinDCX has since compensated affected users and maintained that customer funds remain secure.
Written with AI from the reporting · updated 10/27/2026
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Story route
A station-by-station route from the first public evidence onward; every station carries its own evidence and uncertainty.
- 1Unclassified fact stationOct 22, 00:00recorded Oct 22, 17:02single sourcerevised
CoinDCX denies $16 million hack, traces flagged wallets to 2
Read original source ↗ BeInCryptoReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- CoinDCX
- Action：
- denies breach and traces flagged wallets to prior hack
- Object：
- flagged USDT and TRX wallets
- Occurred (fact side)：
- Oct 22, 00:00
- Published (valid side)：
- Oct 22, 16:38
- First seen (known side)：
- Oct 22, 17:02
Fact stationSingle source · one-sided claimRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 2Unclassified fact stationOct 22, 19:27single sourcereport-time onlyrevised
CoinDCX 承诺不产生用户损失
Read original source ↗ CointelegraphReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- CoinDCX
- Action：
- 承诺不产生用户损失
- Object：
- 用户
- Occurred (fact side)：
- not recorded
- Published (valid side)：
- Oct 22, 18:53
- First seen (known side)：
- Oct 22, 19:27
Fact stationSingle source · one-sided claimRevisedReport-time onlyCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 3Unclassified fact stationOct 22, 00:00recorded Oct 23, 14:44single sourcerevised
CoinDCX吸收旧钱包存款失败导致的损失
Read original source ↗ CryptoSlateReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- coinDCX
- Action：
- 吸收运营损失
- Object：
- 因旧地址存款失败导致的损失
- Occurred (fact side)：
- Oct 22, 00:00
- Published (valid side)：
- Oct 23, 14:30
- First seen (known side)：
- Oct 23, 14:44
Fact stationSingle source · one-sided claimRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 4Unclassified fact stationOct 23, 00:00recorded Oct 23, 16:32single sourcerevised
CoinDCX denies hack after $16M suspicious outflows flagged
Read original source ↗ CoinDeskReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- CoinDCX
- Action：
- denied hack
- Object：
- active wallets
- Occurred (fact side)：
- Oct 23, 00:00
- Published (valid side)：
- Oct 23, 16:02
- First seen (known side)：
- Oct 23, 16:32
Fact stationSingle source · one-sided claimRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 5Unclassified fact stationOct 25, 00:00recorded Oct 26, 03:18revised
CoinDCX确认1600万美元损失
Read original source ↗ The BlockReplay this moment in the explorerEvidence & revisions · 3 source records
- Subject：
- CoinDCX
- Action：
- 确认损失
- Object：
- 退休钱包
- Occurred (fact side)：
- Oct 25, 00:00
- Published (valid side)：
- Oct 26, 02:46
- First seen (known side)：
- Oct 26, 03:18
- Published (valid side)：
- Oct 26, 13:39
- First seen (known side)：
- Oct 26, 13:56
- Published (valid side)：
- Oct 27, 00:36
- First seen (known side)：
- Oct 27, 00:38
Fact stationRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
- 6Unclassified fact stationOct 25, 00:00recorded Oct 27, 18:05single sourcerevised
CoinDCX确认1600万美元USDT损失
Read original source ↗ CryptoSlateReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- CoinDCX
- Action：
- 确认因自动化服务故障导致的1600万美元USDT损失
- Object：
- 客户存款和自动化服务
- Occurred (fact side)：
- Oct 25, 00:00
- Published (valid side)：
- Oct 27, 18:00
- First seen (known side)：
- Oct 27, 18:05
Fact stationSingle source · one-sided claimRevisedCopy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.
Uncertainty marks flag where to check the sources; they are not proven causation.
Report timeline
Explore every side through dated source reports.
- CryptoSlateRelated fact: single sourceSource report revisedCoinDCX confirms $16 million USDT loss after disputed breach report
Report first recorded Oct 27, 18:05
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.
Read original source ↗ - DecryptSource report revisedCoinDCX confirms $16 million loss after internal process failure, reversing CEO's earlier denial
Report first recorded Oct 27, 00:38
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.
Read original source ↗
- CoinDeskSource report revisedIndia's largest crypto exchange CoinDCX absorbs $16 million loss from retired wallet process failure
Report first recorded Oct 26, 13:56
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.
Read original source ↗ - The BlockCoinDCX confirms $16 million loss from retired wallets after CEO downplayed breach reports
Report first recorded Oct 26, 03:18
CoinDCX confirmed a $16 million loss due to retired wallets, days after CEO Sumit Gupta dismissed early breach reports as a "false alarm." The exchange stated the security event only affected wallets taken out of service, not active user accounts.
Read original source ↗
- CoinDeskRelated fact: single sourceSource report revisedCoinDCX denies active wallet compromise amid $16 million suspicious outflow flags
Report first recorded Oct 23, 16:32
CoinDCX, India's largest crypto exchange, denied that its active wallets were compromised after blockchain analysts flagged about $16 million in suspicious outflows of USDT and TRX. The exchange stated the transactions involved old wallet addresses compromised in July 2025 and not its current active wallets. However, investigator ZachXBT claimed at least one of those addresses remained in use, receiving deposits and interacting with CoinDCX's current wallet into 2026. CoinDCX acknowledged operational losses from a temporary deposit movement failure, which it covered by crediting affected users.
Read original source ↗ - CryptoSlateRelated fact: single sourceSource report revisedCoinDCX Absorbs Losses from Failed Deposit Sweep from Deprecated Wallet Addresses
Report first recorded Oct 23, 14:44
Indian crypto exchange CoinDCX stated it absorbed operational losses because the process to collect deposits from old, deprecated wallet addresses failed, crediting affected customers. This followed an allegation by ZachXBT that $15.8 million in user deposits went unaccounted for; a confirmed transfer of 15,819,002 USDT from an address beginning TQKJQ to another TRON address on Oct. 21 confirms token movement but does not prove customer losses or wallet control. CoinDCX CEO Sumit Gupta initially denied a breach, stating flagged addresses were compromised in the July 2025 incident, but later provided an explanation for the operational loss.
Read original source ↗
- CointelegraphRelated fact: single sourceFact occurrence time unverifiedSource report revisedCoinDCX admits operational losses following scrutiny of $16M wallet transfers
Report first recorded Oct 22, 19:27
CoinDCX admitted to operational losses after $16M wallet transfers came under scrutiny. The exchange is currently investigating the fund flow and stated it will strengthen security measures to prevent future incidents.
Read original source ↗ - BeInCryptoRelated fact: single sourceSource report revisedCoinDCX denies recent $16 million hack, attributing flagged wallets to July 2025 breach
Report first recorded Oct 22, 17:02
CoinDCX co-founder Sumit Gupta denied a fresh breach involving approximately $15.99 million in Tether (USDT) moving out of platform-tagged wallets, stating these addresses were compromised during the July 2025 hack. However, on-chain investigator ZachXBT stated that one of these deposit addresses was sweeping user funds to CoinDCX’s current hot wallet as recently as May 2026, leading Gupta to acknowledge the point while assuring no user funds would be lost. The initial alert was raised by Darcy of Salus on October 22 regarding a late October 21 outflow totaling roughly 15.99 million USDT and 5,783.81 TRON (TRX) to a single TRON address, which subsequently distributed funds to exchanges including Binance and OKX.
Read original source ↗
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