CoinDCX admits ‘operational losses’ after $16M wallet transfers draw scrutiny

CoinDCX said it covered losses caused by a failed transfer process involving compromised wallets and credited all affected user accounts.

Update (Oct. 22, 12:32 pm UTC): This article has been expanded and its headline updated following CoinDCX’s admission of operational losses and its further explanation of the flagged wallet activity.

Indian cryptocurrency exchange CoinDCX admitted losses from a failure to move deposits out of previously compromised wallets after investigators challenged its explanation for about $16 million in suspicious transfers.

In a statement posted on X Thursday after this article’s initial publication, CoinDCX said some users continued depositing crypto into addresses compromised during its July 2025 hack despite warnings to stop.

Read more