India’s CoinDCX Confirms $16 Million Loss Days After CEO Called It a ‘False Alarm’
Summary
CoinDCX disclosed that 15.99 million USDT, worth about $16 million, was stolen from retired wallets on Oct. 21 after an internal process failed to transfer residual deposits. The Indian exchange said it absorbed the loss and customer funds were unaffected. Its co-founder had initially dismissed reports of suspicious outflows as a false alarm, before the company confirmed the theft. The incident follows a roughly $44 million hack in July 2025, bringing the exchange’s reported losses across the two attacks to nearly $60 million. CoinDCX says its investigation is ongoing.
