CoinDCX admits $16M loss after ZachXBT exposes old-wallet drain
first published 2026-10-25T14:59:45Z
CoinDCX said it lost 15.99 million USDT after an automated deposit-sweeping system failed, leaving funds in compromised old wallets. The exchange said customer balances and trading were unaffected, while blockchain investigators traced the transfers across multiple Tron wallets and to other exchanges; Tether froze about $2.21 million linked to the incident.
AI Analysis
The article confirms a real exchange loss of 15.99 million USDT and mentions funds traced across multiple wallets, with some assets frozen. Although customer balances were unaffected, the incident is a concrete security failure involving a major exchange and could affect short-term market confidence.
Expected Investor Sentiment: Bearish
Potential Market Impact: Significant
Source Articles
- CoinDCX admits $15.99M loss days after denying hack claims - Crypto News
- Hackers Breach GMO Trading Cloud, Putting 26,739 Servers at Risk - Bitcoin.com
- CoinDCX Hack News: Exchange Admits $16M Theft After Earlier Denials - Coinpedia
- India's largest crypto exchange absorbs $16 million loss from internal process failure tied to retired wallet - CoinDesk
- BloomTrading promises refunds after $954K Solana wallet drain - Crypto News
- CoinDCX Admits $16M Loss After ZachXBT Exposes Old Wallet Drain - Coinpedia
