Another day, another exploit, and this time CoinDCX, one of the biggest cryptocurrency exchanges in India, is facing scrutiny after suspicious movements involving wallets previously linked to the exchange. According to Darcy (an on-chain investigator), CoinDCX was linked to a suspected $16 million security incident.
On the 21st of October, 2026, approximately 15.99 million USDT and 5,784 TRX were transferred from addresses previously associated with CoinDCX to a single TRON wallet.
In this, the largest transaction involved 15.82 million USDT, after which the funds were split and routed to deposit addresses linked to Binance, OKX, and Gate.
CoinDCX’s co-founder stirs the pot
However, things became heated when CoinDCX co-founder Sumit Gupta denied that the exchange’s active wallets had been compromised. He described the transactions as hackers reusing compromised addresses from the previous incident.
Thanks for highlighting but this is incorrect and CoinDCX wallets are not breached. Pls don’t spread rumours.
Gupta added,
We have checked all the present CoinDCX central and user addresses. None of them have sent money to these old addresses.
Additionally, co-founder Gupta issued an updated statement explaining that the flagged addresses, including the TQKJQ wallet, had been ‘deprecated’ following the July 2025 exploit.
CoinDCX said it had absorbed the operational losses and credited all affected users. They also noted that their customer assets remained protected in segregated cold storage.
However, blockchain investigator ZachXBT challenged this explanation and presented on-chain evidence for the same.
ZachXBT calls CoinDCX founders ‘clowns’
According to ZachXBT, the address remained active with a liquidity provider, regularly processed user deposits, and interacted with a current CoinDCX hot wallet as recently as April and May 2026.
Remarking on the same, the pseudonymous blockchain investigator added,
Withdraw all funds from CoinDCX if you value your assets. Its co-founders are clowns running a circus.
Naturally, these findings have raised questions on whether the addresses should genuinely be considered inactive. They have also sparked concerns over whether approximately $15.8 million in assets had actually gone missing.
What’s more to this?
Needless to say, this isn’t the first time CoinDCX has been attacked. Back in July 2025, the crypto exchange had already suffered a $44 million hack.
Interestingly, while this CoinDCX exploit was making headlines, SunCrypto, another crypto exchange of India, reported server-side technical issues that have temporarily made its app unavailable.
Now, while its team is working to restore services as soon as possible, the exchange assured users that their funds remain safe and secure.
Final Summary
- Darcy alleged that CoinDCX was suspected of the transfer of approximately 15.99 million USDT and 5,784 TRX.
- But CoinDCX co-founder Sumit Gupta rejected claims of the exchange’s active wallets being compromised.
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