CoinDCX Denies Second Hack Claims as ZachXBT Questions Wallet Activity
CoinDCX says the wallets were compromised in its July 2025 hack, while investigators allege 15.8 million USDT moved to other exchanges.
- On Thursday, CoinDCX denied allegations of a new security breach involving nearly $16 million in cryptocurrency transfers. CEO Sumit Gupta rejected reports of unauthorized activity, attributing transactions to wallets "compromised in July 2025."
- The exchange stated the flagged addresses were created in January 2025 and were "compromised in July 2025," when CoinDCX was drained for approximately $44 million. The company maintained customer assets remained safe in separate cold storage.
- Blockchain investigator ZachXBT challenged the company's account, citing evidence that the address remained in use by a liquidity provider for 10 months after the July 2025 incident. He noted deposits continued through May 2026.
- In his latest response, Gupta stated the team is investigating the disputed transactions and will share updates soon. He assured users that "no user funds will be at loss," citing the company's proof of reserves.
- This scrutiny follows the $230 million WazirX hack, which raised questions about how Indian exchanges handle security incidents. CoinDCX previously established a customer protection fund, initially allocating approximately $6 million, to mitigate future breach risks.
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Cryptocurrency News | Cryptocurrency Prices | Market CapCoinDCX denies second hack claims as ZachXBT questions wallet activity
Indian cryptocurrency exchange CoinDCX has denied allegations of a new security breach involving nearly $16 million in cryptocurrency transfers, although blockchain investigator ZachXBT has challenged the company’s explanation of the suspicious wallet activity. CoinDCX said in an October 22 statement…
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CoinDCX Hack Suspected After $16 Million Crypto Transfers
CoinDCX has denied a new security breach after blockchain investigator Darcy flagged approximately $16 million in cryptocurrency transfers from historically associated wallets. Co-founder Sumit Gupta linked the addresses to the July 2025 incident, which involved approximately $44 million in stolen assets.
CoinDCX Denies Fresh $16M Hack After USDT Transfers
CoinDCX has denied claims of a fresh security breach after on-chain researcher Darcy flagged roughly $15.99 million in USDT and 5,783.81 TRX moving from addresses described as linked to the Indian crypto exchange. The transfers were consolidated into a TRON address before being split across multiple wallets. The alert raised concerns over a possible new ...
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