An old CoinDCX wallet kept receiving deposits. Then $16M went missing

The wallets were supposed to belong to CoinDCX’s past. After a July 2025 security breach, the Indian exchange had replaced the compromised infrastructure and told customers to use new deposit addresses. Some customers kept sending money to the old ones, however, and the company kept crediting their accounts while a separate service moved the coins out. In October, that second step failed. A cryptocurrency address does not expire when an exchange retires it. Someone can save it in a withdrawal form, copy it from an old message or automate transfers to it for months. The blockchain will accept the transaction even if the exchange’s current app displays a different destination. CoinDCX chose to recognise those deposits for its customers and sweep the actual coins into newer custody.

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