Crypto exchange CoinDCX ‘lying’ about $16M hack, say blockchain investigators

On Thursday morning, blockchain investigator “Darcy” flagged suspicious movements totalling $16 million on addresses suspected to be associated with crypto exchange CoinDCX. Shortly afterwards, CoinDCX co-founder Sumit Gupta thanked the researcher, who works for security firm Salus, but insisted that the attribution was “incorrect,” urging Darcy “don’t spread rumours.” A number of on-chain sleuths have since taken issue with CoinDCX’s statements, with “SpecterAnalyst” flatly accusing the firm and its co-founder of “lying.” Read more: CoinDCX hack: $44M gone after dev opens file from side gig CoinDCX calls claims “misleading” A later update from the exchange’s official X handle then stated that “the transactions mentioned in recent claims involve old wallet addresses created in January 2025.

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