CoinDCX Confirms $15.99M Loss After Funds Accumulated in Deprecated Wallets

CoinDCX confirmed on Oct. 25 that it absorbed a loss of 15.99 million USDT after an automated service meant to sweep deposits from wallet addresses failed, allowing funds to accumulate in infrastructure the exchange had deprecated. The company said the incident did not affect active customer-facing systems or customer deposit balances. In its Oct. 25 update , CoinDCX said deposits continued to build up because its automated sweeping service had failed. Sweeping services are used to move funds from deposit addresses into other wallet infrastructure. The company said the 15.99 million USDT loss was absorbed by CoinDCX.