On-chain sleuth ZachXBT has turned his attention to Indian exchange CoinDCX: after the security incident in July 2025, an old deposit address was used by a liquidity provider for 10 months and was still collecting user deposits—$15.8 million in funds doesn’t add up.
Meanwhile, on-chain security researcher Darcy was more direct: at 23:35 last night, CoinDCX’s hot wallet transferred about 15.99 million USDT in one go, split across multiple deposits to Binance, OKX, and Gate. The on-chain trail is crystal clear.
CoinDCX officially responded at 16:10, saying user funds are safe and the claims are misleading. On one side, there’s on-chain evidence showing where the funds went; on the other, the official denial. The money is sitting in deposit addresses at other exchanges, and sooner or later the facts will have to add up. If you have funds on the exchange, keep an eye out for further announcements.
Meanwhile, on-chain security researcher Darcy was more direct: at 23:35 last night, CoinDCX’s hot wallet transferred about 15.99 million USDT in one go, split across multiple deposits to Binance, OKX, and Gate. The on-chain trail is crystal clear.
CoinDCX officially responded at 16:10, saying user funds are safe and the claims are misleading. On one side, there’s on-chain evidence showing where the funds went; on the other, the official denial. The money is sitting in deposit addresses at other exchanges, and sooner or later the facts will have to add up. If you have funds on the exchange, keep an eye out for further announcements.