CoinDCX Confirms $15.99M USDT Loss After Failed Sweep Hit Old Crypto Wallets

Indian crypto exchange CoinDCX has confirmed losing nearly $16 million in USDT after funds accumulated in wallet infrastructure the company had already retired following an earlier security breach. This revelation immediately follows on-chain research of suspicious transfers from addresses associated with CoinDCX, which questioned the logic of receiving deposits while wallets allegedly deemed “deprecated”. According to CoinDCX, they noticed unusual transactions on October 21 and also spied on unusual fund transfers through blockchain information and community reports.