CoinDCX admits losses after old-wallet sweep failed; ~$16 Mn flagged
The exchange says its active wallets were not breached, but it has not said how much it lost.
The 30-second read
- CoinDCX admits operational losses after a process to secure deposits sent to old, hacked wallets failed.
- Investigator Darcy flagged around $16 Mn moving from CoinDCX-linked wallets. CoinDCX has not confirmed a link.
- The firm says customer assets sat in cold wallets and affected deposits were credited.
CoinDCX has admitted to operational losses tied to a failed safeguard for deposits made to old, compromised wallet addresses. The admission was first reported by Inc42. The company denies that its active wallets were breached.
Some users kept depositing to addresses that were compromised in July 2025. CoinDCX says it regularly sweeps such deposits so funds can be accounted for and secured. That sweep failed for a period. In a post on X, CoinDCX said: "This failure led to some operational losses, which were absorbed by CoinDCX," All affected users' deposits were credited, the company says.
Separately, investigator Darcy flagged around $16 Mn moved from CoinDCX-linked wallets. Darcy said the funds were split across addresses and sent to deposit addresses on Binance, OKX, and Gate. The flagged addresses were created in January 2025 and compromised in the July 2025 hack. CoinDCX has not said how much it lost or for how long the failure lasted. It has also not confirmed whether the $16 Mn matches its losses.
Sumit Gupta, cofounder and CEO of CoinDCX, denied a fresh breach. He said current central and user wallets had not sent funds to the old addresses, and the team was investigating further. The firm says customer assets stayed in segregated cold wallets and trading continued. The July 2025 cyberattack had cost around $44 Mn.
Why it matters
Some CoinDCX users kept depositing to old, compromised addresses, so how the exchange handles those wallets matters to them. The firm says customer assets stayed in cold wallets and affected deposits were credited, but the loss size is still unknown.