"THIS SOUNDS LIKE A FALSE ALARM."
3 DAYS LATER, INDIA'S BIGGEST EXCHANGE CONFIRMED A 15.99M USDT LOSS
On Oct 22, sleuth Darcy (FlashRescue) flagged ~15.99M USDT and 5,783 TRX leaving CoinDCX wallets to one Tron address, the biggest transfer 15,819,002 USDT, later split toward Binance, OKX and Gate deposit addresses (The Block). CEO Sumit Gupta replied that the wallets "are not breached" and called it a false alarm.
How it unravelled:
1. ZachXBT showed one "retired" address was used by a liquidity provider for 10 months after the July 2025 hack, sweeping user deposits as late as April–May 2026.
2. On Oct 25, CoinDCX's blog admitted its sweeping service "failed for a particular period", so deposits piled up in old, compromised wallets. Loss: 15.99M USDT, absorbed by the company.
3. CoinDCX says user balances, trading and withdrawals were unaffected, and conceded it could have disclosed faster (CoinDesk). ZachXBT told users to withdraw.
History matters here: this is the same exchange that lost ~$44M in July 2025.
The loss is covered, the trust isn't. When an exchange denies first and admits later, I treat its "funds are safe" line as unverified until proof of reserves says otherwise. Not your keys, not your coins.
The funds moved on Tron. $TRX trades ~0.3307, just under its daily MA20 (0.3313).
4H chart:
• Testing: 0.3297–0.3316 (MA20 to recent high)
• If defended: 0.3334 (MA200), then 0.3372
• If lost: 0.3287, then 0.3275
Daily chart:
• Testing: 0.3266–0.3312
• If defended: 0.3349 (MA50), then 0.3492
• If lost: 0.3242, then 0.3208 (Sep 1 low)
Hold 0.3275 → push toward 0.3349
Lose 0.3275 → 0.3208 next
#SouthKoreaReportedlyWeighsFourthCryptoTaxDelay
3 DAYS LATER, INDIA'S BIGGEST EXCHANGE CONFIRMED A 15.99M USDT LOSS
On Oct 22, sleuth Darcy (FlashRescue) flagged ~15.99M USDT and 5,783 TRX leaving CoinDCX wallets to one Tron address, the biggest transfer 15,819,002 USDT, later split toward Binance, OKX and Gate deposit addresses (The Block). CEO Sumit Gupta replied that the wallets "are not breached" and called it a false alarm.
How it unravelled:
1. ZachXBT showed one "retired" address was used by a liquidity provider for 10 months after the July 2025 hack, sweeping user deposits as late as April–May 2026.
2. On Oct 25, CoinDCX's blog admitted its sweeping service "failed for a particular period", so deposits piled up in old, compromised wallets. Loss: 15.99M USDT, absorbed by the company.
3. CoinDCX says user balances, trading and withdrawals were unaffected, and conceded it could have disclosed faster (CoinDesk). ZachXBT told users to withdraw.
History matters here: this is the same exchange that lost ~$44M in July 2025.
The loss is covered, the trust isn't. When an exchange denies first and admits later, I treat its "funds are safe" line as unverified until proof of reserves says otherwise. Not your keys, not your coins.
The funds moved on Tron. $TRX trades ~0.3307, just under its daily MA20 (0.3313).
4H chart:
• Testing: 0.3297–0.3316 (MA20 to recent high)
• If defended: 0.3334 (MA200), then 0.3372
• If lost: 0.3287, then 0.3275
Daily chart:
• Testing: 0.3266–0.3312
• If defended: 0.3349 (MA50), then 0.3492
• If lost: 0.3242, then 0.3208 (Sep 1 low)
Hold 0.3275 → push toward 0.3349
Lose 0.3275 → 0.3208 next
#SouthKoreaReportedlyWeighsFourthCryptoTaxDelay
