CoinDCX says active wallets were not hacked after $16 million outflow flagged
CoinDCX rejects hack claim after $16 million outflow
India’s largest crypto exchange, CoinDCX, said its active wallets were not compromised after blockchain analysts highlighted about $16 million in USDT and TRX moving out of addresses linked to the platform.
The outflow was first pointed out on X by a user who traced the funds to a single Tron address. CoinDCX called the claim a “false alarm.”
Key numbers
- Approximately $16 million in USDT and Tron (TRX) moved.
- Largest single transaction: 15,819,002 USDT.
- Previous hack in July 2025 involved $44 million.
Exchange response
CoinDCX’s spokesperson said the transactions involve “old wallet addresses” created in January 2025 that were compromised in July 2025 and have not been used since. The spokesperson added that current central and user addresses are safe and no funds from active wallets were taken.
The exchange also said a temporary failure in moving deposits from retired addresses caused operational losses, which it absorbed after crediting affected users.
On‑chain investigators’ findings
On‑chain researcher ZachXBT said at least one of the flagged addresses (TQKJQ) continued to receive deposits and forward them to CoinDCX’s current hot wallet as recently as April and May 2026. A “hot wallet” is an internet‑connected wallet used for everyday withdrawals, while a “cold wallet” stores assets offline for security.
He noted that the address acted as a liquidity provider, collecting user deposits and paying the small transaction fee (“gas”) needed to move tokens.
Confirmed facts
- CoinDCX denied that its active wallets were hacked.
- Blockchain analysts flagged about $16 million in outflows from addresses linked to the exchange.
- The outflows included USDT and TRX and were sent to a single Tron address.
- CoinDCX suffered a separate hack in July 2025 that resulted in $44 million being stolen.
Open questions
The exchange says the old addresses are no longer used, but ZachXBT’s on‑chain analysis suggests at least one was still active in 2026. The exact cause of the $16 million movement—whether a processing error or malicious activity—remains unclear.
Why it matters
CoinDCX handles a large share of India’s crypto trading volume. Any loss of user funds or perception of a security breach could affect confidence in the platform and the broader Indian crypto market.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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