CoinDCX said it lost 15.99 million USDT, about $16 million, when funds were drained from retired wallets on October 21, 2026. The exchange said an internal process had failed to move customer deposits out of those wallets, which it had retired after a 2025 hack. It said it absorbed the loss and that customer balances were unaffected, while its investigation continues.
The admission reversed CEO Sumit Gupta’s earlier description of breach reports as a “false alarm.” A roughly $44 million hack in July 2025 brings CoinDCX’s reported losses across the two incidents to nearly $60 million.
