CoinDCX Hack News: Exchange Admits $16M Theft After Earlier Denials

Indian crypto exchange CoinDCX has confirmed that 15.99 million USDT was stolen from wallets it retired after its July 2025 breach, days after CEO Sumit Gupta suggested on X that the theft reports were a false alarm. The exchange said some users kept sending deposits to the old addresses, and an automated system meant to move those funds to safe wallets stopped working for a period. The money built up in the exposed wallets and was drained in a single attack. CoinDCX said it will absorb the loss and that customer funds are safe.