India's largest exchange denies hack after sleuths pointed to $16 million in suspicious outflows

India's largest crypto exchange, CoinDCX, has denied that its active wallets were compromised, after blockchain sleuths flagged about $16 million in suspicious outflows from wallets linked to the exchange. “The transactions mentioned in recent claims involve old wallet addresses created in January 2025. These addresses were compromised in July 2025 and have not been used by CoinDCX since. The activity now being reported relates to these old addresses and does not have any connection with CoinDCX,” the exchange’s spokesperson told CoinDesk. “Current CoinDCX central and user addresses have not been impacted, and no CoinDCX funds from active wallets have been compromised.” It started when an X user named Darcy highlighted a large outflow from CoinDCX's hot wallet and several of its deposit addresses on Wednesday.

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