From ‘No Breach’ to $15.99M lost: Crypto exchange CoinDCX faces backlash after shifting story

Indian crypto exchange CoinDCX has finally acknowledged the loss of $15.99 million from July’s 2025 cyberattack. The confirmation came three days after blockchain investigator ZachXBT first reported the suspected theft. This delayed acknowledgment is what has triggered backlash against the exchange. As AMBCrypto previously reported, CoinDCX co-founder Sumit Gupta had initially denied allegations that active wallets on the exchange had been breached, one day after they were highlighted by blockchain sleuth, ZachXBT. However, the change in narrative from ‘no breach’ to confirming losses of $15.99 million has led to questions over how the exchange managed the situation and communicated it to its users. Crypto exchange blames failed wallet sweeps as user trust takes a hit CoinDCX is attributing the loss to a failed internal wallet-transfer process.

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