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Story thread · 3 updates · October 22, 2026 → October 23, 2026

CoinDCX Scrutiny Over $16M Wallet Outflows

Where things stand · updated 1h ago

Indian crypto exchange CoinDCX faces community scrutiny after roughly 16 million $USDT moved from wallet addresses tied to a past security incident.

CoinDCX Co-Founder Sumit Gupta denied reports of a fresh platform breach on Oct. 22, 2026, stating that the flagged addresses originated from a prior July 2025 compromise [1]. Gupta confirmed that active platform assets remain safe [1]. However, on-chain analysts disputed the company's explanation following the outbound transfers [2].

By Oct. 23, 2026, the exchange clarified that the transactions involved funds drained from retired addresses compromised during the July 2025 incident [3]. CoinDCX stated it absorbed operational losses caused by address-sweeping errors rather than user balances being impacted [3].

The saga highlights persistent risks surrounding key management and legacy infrastructure, as market observers demand clarity on how previously compromised wallets continued processing automated sweeps [2], [3].

Timeline

  1. CoinDCX Denies Fresh Hack Following $16M Outflow From Retired Addresses

    The Indian exchange attributed the movements to addresses compromised in July 2025, absorbing operational losses from sweeping errors.

  2. CoinDCX Faces Scrutiny From Sleuths Over $16M Transfer From Compromised Wallets

    On-chain researchers dispute the exchange's explanation after roughly 16 million $USDT was moved from addresses linked to a prior security breach.

  3. CoinDCX Co-Founder Denies New Security Breach Following $16M Wallet Alert

    Sumit Gupta states that flagged wallet addresses stem from a July 2025 compromise and active platform funds remain unaffected.

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