CoinDCX Denies New $16M Hack Amid Wallet Scrutiny

Indian cryptocurrency exchange CoinDCX has rejected allegations of a new security breach involving nearly $16 million in cryptocurrency transfers, maintaining that customer funds remain safe and unaffected. According to CryptoNews, the dispute arose after blockchain investigators flagged suspicious USDT and TRX transfers on the TRON network on October 21.

Exchange Response and Investigation

CoinDCX co-founder and CEO Sumit Gupta stated that the exchange's wallets have not been breached and urged users not to spread rumors. Gupta explained that the addresses identified through Arkham Intelligence belonged to wallets compromised during the exchange's July 2025 security incident, during which attackers stole approximately $44 million from an internal liquidity account. He described the recent transaction activity as a possible false alarm involving the reuse of old addresses by attackers.

Blockchain Investigator Scrutiny

Blockchain investigator ZachXBT challenged CoinDCX's explanation, pointing to continued activity on a deposit address identified as TQKJQ. ZachXBT claimed the address remained in use by a liquidity provider for roughly 10 months after the July 2025 attack, receiving deposits and gas transfers as recently as April and May 2026. Another investigator, Darcy, flagged the movement of approximately 15.99 million USDT and 5,783.81 TRX on October 21, which subsequently routed through intermediary addresses to deposit addresses on platforms like Binance, OKX, and Gate.

Key facts

• CoinDCX denied a new $15.8 million crypto hack following reports of suspicious TRON network transfers.
• Suspicious transactions involved approximately 15.99 million USDT and 5,783.81 TRX on October 21.
• CEO Sumit Gupta stated the targeted addresses were compromised during CoinDCX's July 2025 breach and were no longer active.
• Investigator ZachXBT disputed the explanation, citing continued wallet activity through May 2026.