CoinDCX loses $15.99 million in USDT wallet hack, $2.2 million frozen

CoinDCX, one of India’s leading cryptocurrency exchanges, has reported a substantial security incident resulting in a $15.99 million loss in USDT after unauthorized activity was detected on October 21. The breach was linked to old wallet addresses that had been inactive following a security issue in July 2025, according to statements from the company. The company identified unusual on-chain activity in its infrastructure, leading to an immediate investigation. CoinDCX reported that the affected wallets were already deactivated after an earlier breach. However, a temporary malfunction in its automated balance consolidation prevented some deposited funds from being transferred promptly to new, secure wallets. As a result, these dormant wallets remained vulnerable, exposing the platform to losses when individuals continued sending assets to outdated addresses.

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