CoinDCX has now put a number on its TRON outflow: 15.99M USDT, lost from an old wallet it had called retired. Tether froze 2.21M of it. That is 13.8%.
On Oct 21 at 23:35 UTC+8, the old address TQKJQ sent 15,819,002 USDT in one transfer to a new wallet, which also took about 172,000 USDT from 39 smaller addresses. By 11:22 UTC+8 on Oct 22 that wallet had sent everything on to six addresses.
Tether blacklisted nine linked addresses at 06:45 UTC+8 on Oct 23, about 19 hours after the first wallet was empty. Those nine hold 2,212,850 USDT. By our math, about 13.78M, or 86.2%, had already moved on.
In a blog post on Oct 25, CoinDCX said the loss hit "old, deprecated wallet infrastructure which had unknown vulnerabilities", that its sweeping service had failed for a period, and that it absorbed the loss. It says customer balances are fully accounted for.
On-chain records read by CryptoWatchDesk show the same old address forwarding USDT as late as May 2026.
A freeze only catches what is still sitting still. Only deposit to the address your exchange app shows you today, never to one saved from before.
$USDT
#CoinDCX #Tether
NFA. DYOR.
On Oct 21 at 23:35 UTC+8, the old address TQKJQ sent 15,819,002 USDT in one transfer to a new wallet, which also took about 172,000 USDT from 39 smaller addresses. By 11:22 UTC+8 on Oct 22 that wallet had sent everything on to six addresses.
Tether blacklisted nine linked addresses at 06:45 UTC+8 on Oct 23, about 19 hours after the first wallet was empty. Those nine hold 2,212,850 USDT. By our math, about 13.78M, or 86.2%, had already moved on.
In a blog post on Oct 25, CoinDCX said the loss hit "old, deprecated wallet infrastructure which had unknown vulnerabilities", that its sweeping service had failed for a period, and that it absorbed the loss. It says customer balances are fully accounted for.
On-chain records read by CryptoWatchDesk show the same old address forwarding USDT as late as May 2026.
A freeze only catches what is still sitting still. Only deposit to the address your exchange app shows you today, never to one saved from before.
$USDT
#CoinDCX #Tether
NFA. DYOR.