CoinDCX Denies $16 Million Outflow: An Old-Wallet Encore

CoinDCX, India’s largest crypto exchange, denied on Oct. 23, 2026 that its active wallets were compromised after blockchain investigators flagged about $16 million in suspicious outflows from addresses linked to the exchange. CoinDesk’s report by Omkar Godbole, edited by Jamie Crawley, said the exchange attributed the transactions to addresses compromised in July 2025, while an investigator said at least one continued to receive deposits and interact with CoinDCX’s current wallet into 2026.

“The transactions mentioned in recent claims involve old wallet addresses created in January 2025. These addresses were compromised in July 2025 and have not been used by CoinDCX since. The activity now being reported relates to these old addresses and does not have any connection with CoinDCX,” the exchange’s spokesperson told CoinDesk. “Current CoinDCX central and user addresses have not been impacted, and no CoinDCX funds from active wallets have been compromised.”

The alert began when X user Darcy highlighted a large outflow from CoinDCX’s hot wallet and several of its deposit addresses on Wednesday, totaling about $16 million in USDT, a dollar-pegged stablecoin, and Tron’x TRX token. Every user gets a personal deposit address, a unique string of characters to send crypto to, and the exchange regularly “sweeps” those deposits into its own main wallets. Some funds go to a hot wallet, an internet-connected destination used for everyday withdrawals, while the rest go to cold wallets kept offline. Darcy said all of it was sent to a single Tron address, which then distributed the money across several different wallets. The largest transaction was 15,819,002 USDT.

Darcy’s post flagged the outflow as a suspected theft, raising fears of a fresh hack at the exchange. CoinDCX was exploited in July 2025 for about $44 million. CoinDCX CEO Sumit Gupta pushed back on X, saying the July 2025 hackers seem to be reusing the old wallet addresses and calling it a false alarm.

CoinDCX also acknowledged a temporary failure in its process for moving deposits from retired addresses. The exchange said the failure caused operational losses, which it absorbed after crediting affected users.