CoinDCX denies $16 million hack and tracks flagged wallets from its 2025 breach

CoinDCX went public this week to deny that it had suffered a new hacker attack after nearly $16 million in Tether (USDT) was moved, as identified by a security researcher. According to the exchange, the addresses involved were already linked to the July 2025 incident, and there is no evidence of a new breach in its operations.

Suspicious activity raises alarm in the community

The alert was raised by Officer’s Notes, a well-known researcher in cybersecurity circles, who detected the transfer of approximately $15.99 million in USDT from wallets linked to CoinDCX. The episode quickly gained traction on social media, raising doubts about the exchange’s security and the possibility of a new incident.

However, Sumit Gupta, co-founder of CoinDCX, clarified that the addresses tracked by the researcher had already been compromised since the breach in July 2025. Gupta emphasized that there was no new intrusion and that the detected movements are a consequence of the previous exposure, which is still under investigation by authorities and the exchange itself.

History of the 2025 breach and impact on the Indian market

The original attack, which occurred in July 2025, resulted in significant losses for CoinDCX, one of India’s leading cryptocurrency trading platforms. At the time, more than $18 million was stolen, affecting not only the company’s finances but also local investors’ confidence in the sector.

Since then, CoinDCX has stepped up its security efforts, reviewing internal processes and collaborating with experts and authorities to track funds and mitigate risks. The episode exposed vulnerabilities faced by exchanges in emerging markets, where digital security remains a recurring challenge.

Tracking and containment measures

According to CoinDCX, all transactions associated with the flagged addresses are under continuous monitoring. The exchange stated that it maintains dialogue with blockchain analytics firms to track the movement of stolen funds and prevent their conversion into other cryptocurrencies or fiat currencies.

The case reinforces the importance of robust key management practices and wallet monitoring, especially in an environment where attacks and phishing attempts are frequent. Exchanges that have already been hacked tend to be monitored more closely, both by experts and the community, which increases pressure for transparency and quick responses.

What investors and users should watch for

Although CoinDCX has denied a new breach, the episode highlights the need for constant monitoring of crypto platforms. Investors should follow official statements, review asset protection policies, and consider diversifying custody to mitigate individual risks.

The recent activity also underscores how a history of incidents can impact an exchange’s reputation, influencing trading volumes and even the price of associated tokens. In the Indian context, where crypto adoption is growing rapidly, trust in exchanges is crucial for the market’s sustainable development.

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With information from BeInCrypto Brazil (September 2026).

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Alexandre Bianchi

Fundador da Bianchi Capital e do Zayion AI. ~10 anos no mercado de ativos digitais, autor de referência e presença na mídia.

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