🚨 BREAKING NEWS: India's largest crypto exchange absorbs $16 million loss from internal process failure tied to retired wallet
CoinDCX, India’s largest crypto exchange by trading volumes, says it has absorbed a $16 million loss after an internal process failed to move customer deposits out of a retired wallet.
It all started last week, when blockchain sleuths flagged about $16 million in suspicious outflows from wallets linked to the Mumbai-based exchange. CoinDCX was quick to dismiss the reports, with CEO Sumit Gupta calling it a false alarm on X.
A spokesperson told CoinDeskthat the addresses cited by the sleuths were old ones, created in January 2025 and compromised in the July 2025 hack, which cost the exchange about $44 million, and that CoinDCX had not used them since. In essence, the exchange said the activity did not have any connection with CoinDCX.
But ZachXBT, a well-known on-chain investigator, said at least one of those addresses, labeled TQKJQ, was in use by a liquidity provider and swept user deposits to CoinDCX’s current public hot wallet as recently as April and May 2026.
🔗 [Đọc toàn bộ bài viết tại bản gốc](https://www.coindesk.com/markets/2026/10/26/coindcx-absorbs-usd16-million-loss-from-internal-process-failure-tied-to-retired-wallet)
📰 Nguồn: 🪙 CoinDesk
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CoinDCX, India’s largest crypto exchange by trading volumes, says it has absorbed a $16 million loss after an internal process failed to move customer deposits out of a retired wallet.
It all started last week, when blockchain sleuths flagged about $16 million in suspicious outflows from wallets linked to the Mumbai-based exchange. CoinDCX was quick to dismiss the reports, with CEO Sumit Gupta calling it a false alarm on X.
A spokesperson told CoinDeskthat the addresses cited by the sleuths were old ones, created in January 2025 and compromised in the July 2025 hack, which cost the exchange about $44 million, and that CoinDCX had not used them since. In essence, the exchange said the activity did not have any connection with CoinDCX.
But ZachXBT, a well-known on-chain investigator, said at least one of those addresses, labeled TQKJQ, was in use by a liquidity provider and swept user deposits to CoinDCX’s current public hot wallet as recently as April and May 2026.
🔗 [Đọc toàn bộ bài viết tại bản gốc](https://www.coindesk.com/markets/2026/10/26/coindcx-absorbs-usd16-million-loss-from-internal-process-failure-tied-to-retired-wallet)
📰 Nguồn: 🪙 CoinDesk
$BTC $ETH #BinanceSquare #CryptoNews
