India’s top crypto exchange CoinDCX rejects hack claims after $16 million in USDT transfers reported

the exchange disclosed a $44 million security breach in July 2025 after attackers drained an operational wallet used for liquidity provisioning on a partner exchange. India’s leading crypto exchange CoinDCX rejected allegations connecting the exchange to reported transfers of approximately 16 million USDT and 5,783 TRX on Oct. 21, stating that the transactions involved previously compromised wallet addresses unrelated to its current operations. The reported activity occurred at 23:35:54 UTC+8, when addresses identified as the exchange’s hot wallet and multiple deposit addresses transferred the assets to a TRON address, according to Darcy, an executive at blockchain security firm Salus. The receiving address subsequently split and transferred the funds through multiple wallets, with some of the flows eventually reaching deposit addresses associated with Binance, OKX, Gate and other exchanges, according to…

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Briefing.