CoinDCX Denies New Breach as Investigators Question Its Account of Old Wallets

Indian crypto exchange CoinDCX has denied a new security breach after analysts flagged suspicious transfers linked to its addresses. In a Thursday post on X, the exchange said the wallets involved were created in January 2025, were compromised in July 2025, and have not been used by the exchange since. Asset recovery platform FlashRescue co-founder Darcy had earlier pointed to about $16 million in transfers from addresses labeled as CoinDCX. Darcy also claimed that two addresses listed in the exchange’s latest proof of reserves sent funds to the flagged Tron address.

ZachXBT Challenges CoinDCX Wallet Explanation

Blockchain investigator ZachXBT disputed the exchange’s account. He said a CoinDCX deposit address stayed in use by a liquidity provider for 10 months after the July 2025 incident, kept moving user deposits to the exchange’s current public hot wallet, and received funds to cover transaction fees. CoinDCX CEO Sumit Gupta responded that the team is aware, is investigating further and will share an update soon, adding that no user funds will be lost.

Background on the 2025 CoinDCX Hack

CoinDCX lost $44 million in July last year when attackers drained one of its accounts. The exchange said at the time that customer wallets were kept separate from the affected account and that it would cover the loss from its own treasury reserves.