India’s largest crypto exchange absorbs $16 million loss from internal process failure tied to retired wallet
The Mumbai-based exchange initially dismissed reports of suspicious outflows as a false alarm. It now says it lost $16 million and will absorb the loss.
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Summary
- CoinDCX said it absorbed a $15.99 million loss after a service failed to move customer deposits from a retired wallet compromised in a 2025 security breach.
- The exchange initially dismissed reports of suspicious outflows but later acknowledged that users had continued sending funds to the deprecated addresses.
- CoinDCX said customers’ balances, active wallets and trading systems were unaffected, though it conceded that it could have disclosed the incident more quickly.
