Overview
- Blockchain analysts flagged transfers of roughly 15.99 million USDT plus 5,783 TRX moving out of addresses linked to CoinDCX on Wednesday, with the funds split and routed through multiple wallets.
- CoinDCX first denied a new breach but on Oct. 23 said its process to 'sweep' deposits sent to discontinued, compromised addresses failed and that the company absorbed the resulting operational losses and credited affected users.
- Independent investigators pushed back, saying at least one deprecated deposit address kept receiving deposits and gas through April–May 2026 and alleging about $15.8 million in deposits went unaccounted for under the exchange’s public timeline.
- On-chain traces show portions of the flagged funds moving toward deposit addresses at centralized platforms including Binance, OKX and Gate.io, which could allow freezes or recoveries but do not guarantee restitution.
- The episode revives scrutiny of CoinDCX’s July 2025 $44 million hack, underscores the limits of automated sweep processes and on-chain labeling, and leaves unresolved demands for a full public forensic reconciliation to restore user confidence.