CoinDCX Denies New Hack After $16 Million Moves From Old Wallet Addresses

India's largest crypto exchange is pushing back on reports of a fresh security breach.

What was flagged

On Wednesday, an X user named Darcy pointed to about $16 million in USDT and TRX leaving CoinDCX's hot wallet and several of its deposit addresses, all sent to a single Tron address and then split up, CoinDesk reported. The largest transfer was about 15.8 million USDT.

CoinDCX's response

A CoinDCX spokesperson said the activity involved old addresses created in January 2025 and compromised in a July 2025 attack, which cost the exchange about $44 million. The spokesperson said the exchange's current main and user addresses were unaffected and that no funds in active wallets had been compromised, CoinDesk reported. CEO Sumit Gupta called it a false alarm on X.

The dispute

On-chain investigator ZachXBT challenged that account, saying at least one of the addresses was used by a liquidity provider for 10 months after the 2025 incident and passed deposits to CoinDCX's current hot wallet as recently as April and May 2026.

CoinDCX said some users kept depositing to retired addresses despite warnings, and a temporary failure in its process for sweeping those deposits caused operational losses that it absorbed after crediting affected users. It said customer assets are held in cold wallets and trading continues normally.

Why it matters for crypto

The episode is a reminder that old deposit addresses can remain a risk long after a hack, and that exchanges face close public scrutiny of their wallet practices.