🔴 CoinDCX Confirms $16M Loss From Its "Retired" Wallets
India's largest crypto exchange has finally put a number on it: $15.99M in $USDT drained on October 21 from legacy wallet infrastructure it says was retired after its July 2025 hack.
Why this admission matters: CoinDCX first denied a new breach. On-chain investigators led by ZachXBT then showed the "retired" address had still been sweeping user deposits as recently as May 2026. Only now, in a blog post shared Sunday, has the exchange confirmed the exact loss, saying it absorbed the cost and that customer deposits were credited and trading was unaffected.
The lesson for every exchange user is blunt: on a key-based chain, a "retired" wallet is not switched off. The key still works. If the sweep fails, funds pile up exactly where attackers already know to look.
⚠️ Honest risk: CoinDCX insists user funds are safe, but independent investigators dispute its account and no forensic report has been published. Until one appears, treat any "legacy wallet" explanation as unverified.
🔑 for self-custody, 🏦 for exchange trust. Which side are you on?
📌 Sharing personal opinions only, not financial advice or a recommendation to buy/sell. Crypto is highly risky; DYOR and you are solely responsible. No coin promotion.
#CoinDCX #CryptoSecurity #Crypto #Binance
India's largest crypto exchange has finally put a number on it: $15.99M in $USDT drained on October 21 from legacy wallet infrastructure it says was retired after its July 2025 hack.
Why this admission matters: CoinDCX first denied a new breach. On-chain investigators led by ZachXBT then showed the "retired" address had still been sweeping user deposits as recently as May 2026. Only now, in a blog post shared Sunday, has the exchange confirmed the exact loss, saying it absorbed the cost and that customer deposits were credited and trading was unaffected.
The lesson for every exchange user is blunt: on a key-based chain, a "retired" wallet is not switched off. The key still works. If the sweep fails, funds pile up exactly where attackers already know to look.
⚠️ Honest risk: CoinDCX insists user funds are safe, but independent investigators dispute its account and no forensic report has been published. Until one appears, treat any "legacy wallet" explanation as unverified.
🔑 for self-custody, 🏦 for exchange trust. Which side are you on?
📌 Sharing personal opinions only, not financial advice or a recommendation to buy/sell. Crypto is highly risky; DYOR and you are solely responsible. No coin promotion.
#CoinDCX #CryptoSecurity #Crypto #Binance