CoinDCX confirms 15.99 million USDT loss from old wallets after earlier denying a new hack
Indian crypto exchange CoinDCX said on 25 October that about 15.99 million USDT was lost from operational wallets it had retired after a July 2025 breach, because of a failure in its deposit-sweeping service. It said it absorbed the loss and that customer balances were not affected.
Indian cryptocurrency exchange CoinDCX has confirmed that about 15.99 million USDT, the Tether stablecoin pegged to the US dollar, was lost from old operational wallets, after its chief executive had earlier said there had been no new security breach, crypto.news reported.
In a statement on Sunday 25 October, CoinDCX said an incident on 21 October affected wallets it had retired after a US$44 million security breach in July 2025. According to the exchange, a failure in its automated deposit-sweeping service allowed funds to build up at an address that some customers kept using despite being told to switch to newer wallets.
CoinDCX said it had absorbed the loss and that customer balances, active wallets and trading were not affected. “User funds remain safe, and trading and withdrawals continue as usual,” the exchange said in a post on X.
On 22 October, chief executive Sumit Gupta had rejected suggestions of another breach, saying the flagged addresses belonged to infrastructure compromised in July 2025 and that no funds had moved from current operational wallets to them, crypto.news reported. Blockchain investigators had flagged transfers of about 15.99 million USDT and 5,783.81 TRX on the Tron network, according to the report.
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