COINDCX CONFIRMS $16 MILLION LOSS FROM RETIRED WALLETS

Summary from the TLDR Crypto newsletter

CoinDCX admitted losing 15.99M USDT from deposit wallets it stopped using after its July 2025 hack, and says it absorbed the loss. It says an automated sweeping service failed for a period, so user deposits built up at a deprecated address with unknown vulnerabilities. FlashRescue's co-founder flagged the outflows on Wednesday. CEO Sumit Gupta called it “a false alarm,” and the company's account called the claims “misleading.” ZachXBT showed one address was used for 10 months after the 2025 incident and swept deposits as late as April and May 2026. He advised users to withdraw and said the founders either lied or were negligent. CoinDCX says user funds are safe in cold wallets, and trading and withdrawals continued. The July 2025 hack cost about $44M. The founders were also arrested in March over a fraud complaint.