CoinDCX, India’s largest crypto exchange, has denied that its active wallets were compromised after blockchain investigators flagged about $16 million in suspicious outflows from addresses linked to the exchange. The exchange blames a broken cleanup process on retired wallets — not a fresh hack.
CoinDCX (Credits: Naveed Ahmed / Unsplash)
CoinDCX $16 Million Outflows: Old Wallets, Not Active Ones
“The transactions mentioned in recent claims involve old wallet addresses created in January 2025,” a CoinDCX spokesperson told CoinDesk. “These addresses were compromised in July 2025 and have not been used by CoinDCX since. The activity now being reported relates to these old addresses and does not have any connection with CoinDCX.”
The exchange insists that its current central and user addresses have not been impacted, and that no CoinDCX funds from active wallets have been compromised.
But Investigators See Continued Activity Into 2026
The denial isn’t the full story. At least one blockchain investigator noted that one of the flagged addresses continued to receive deposits and interact with CoinDCX’s current wallets into 2026, raising questions about how fully the retired addresses were separated from active operations.
CoinDCX acknowledged that a temporary failure in its process for moving deposits from retired addresses caused operational losses. The exchange says it absorbed those losses after crediting the affected users — framing the incident as a process breakdown rather than a security breach.
The episode highlights the uncomfortable reality for Indian crypto users: after years of regulatory limbo, exchange security and wallet hygiene remain the industry’s most sensitive fault lines. For now, CoinDCX’s position is clear — current user funds are safe — but the on-chain trail will keep investigators watching.
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Source: CoinDesk — read the full story there.
