CoinDCX absorbs $16 million loss from internal process failure tied to retired wallet
Summary
CoinDCX says a failed internal transfer process led to a loss of 15.99 million USDT, which the exchange has absorbed. After its July 2025 hack, CoinDCX retired certain wallets, but some customers continued depositing to them. The exchange credited those deposits to users, while a secondary service was supposed to sweep the funds to its primary wallet. That process failed for a period, leaving funds in the retired wallet, where they were lost. CoinDCX has not disclosed who moved the funds or how, and did not describe the incident as a hack. It says customer funds remain safe in segregated cold wallets.
