CoinDCX Hack Rumors: $16 Million Potentially Lost

CoinDCX Denies $16 Million Breach, Cites Old Wallet Addresses

CoinDCX has refuted reports of a suspected $16 million breach, characterizing the claims as a false alarm stemming from the movement of old wallet addresses.

The exchange stated that while suspicious blockchain transfers involving approximately 15.99 million USDT and 5,784 TRX were observed, these movements do not indicate a new hack. CoinDCX confirmed that its current wallet checks revealed no compromised funds and that its team is actively investigating the matter.

Rumors of a CoinDCX hack gained traction after unusual blockchain transactions sparked speculation of another significant security incident at the Indian cryptocurrency exchange. However, CoinDCX’s co-founder has dismissed these reports, asserting that the exchange’s wallets were not breached and that the claims constitute a false alarm. The alleged $16 million incident remains unconfirmed, with the exchange actively pushing back against the narrative.

The speculation arose following reports on October 21 of approximately 15.99 million USDT and 5,784 TRX being moved. One notable transfer involved 15.82 million USDT, with the funds subsequently divided and directed to deposit addresses at exchanges including Binance, OKX, and Gate.

On-chain investigator Darcy reportedly linked these transfers to addresses previously associated with CoinDCX. This connection raised concerns, particularly given that the exchange experienced a substantial hack of roughly $44 million in July 2025. Nevertheless, blockchain transactions alone are insufficient to confirm a new breach.

CoinDCX’s co-founder disputed the allegations, explaining that the addresses flagged by Arkham belonged to the exchange prior to the July 2025 incident. According to the explanation, these addresses were generated in January 2025 and were compromised during the earlier hack. The co-founder further suggested that attackers may be attempting to reuse old wallet addresses. CoinDCX has stated that it has reviewed its current central and user addresses and found no funds sent to the addresses currently under scrutiny.

Amidst the ongoing discussion, Binance founder CZ posted a reminder that no cryptocurrency wallet or software is entirely secure. His message emphasized the importance of risk management, staying informed, and preparing to address issues rather than assuming technological infallibility. While CZ’s post contributes to the broader security discourse, it does not independently confirm a breach at CoinDCX.