CoinDCX Admits Sweeping Failure After $16 Million Crypto Theft Allegations

Indian cryptocurrency exchange CoinDCX has acknowledged failures in its deposit-processing system after nearly $16 million in USDT was transferred from wallets linked to the platform, reversing an earlier explanation that the suspicious activity involved only abandoned addresses. The October 22 admission followed accusations from blockchain investigator ZachXBT, who challenged CoinDCX's claim that the wallets had been inactive since a $44 million security breach in July 2025. The exchange now acknowledges that deposits continued reaching those addresses and that its process for collecting the funds had failed for a period.