$16 Million Lost From Retired Wallets, CoinDCX Admits After CEO Dismissed Breach

CoinDCX, one of India's largest cryptocurrency exchanges, has confirmed a $16 million loss linked to retired wallets. The disclosure follows days of conflicting statements about whether a security breach had actually occurred. The exchange's CEO, Sumit Gupta, had earlier pushed back on reports of a hack. He characterized the initial claims as a false alarm, suggesting there was no cause for concern. That assessment has now been revised with the confirmation of a real financial loss tied to wallets the company had stopped actively using.