CoinDCX confirms 152 crore rupee loss following wallet vulnerability
Mumbai-based cryptocurrency exchange CoinDCX has acknowledged the loss of 15.99 million USDT after previously denying reports of a security breach.
CoinDCX confirmed a loss of approximately Rs 152 crore (15.99 million USDT) originating from a deprecated wallet infrastructure. The company identified the loss after community reports prompted a deeper internal investigation, confirming that unknown vulnerabilities had affected an automated sweeping service designed to move funds to secure storage.
The disclosure follows a public denial issued by CoinDCX CEO Sumit Gupta on October 22, who initially labeled reports of a security incident as "false alarms" and urged the public against spreading rumors. The exchange had initially claimed that the targeted addresses were legacy wallets associated with a separate incident in 2025, suggesting they were no longer in active use.
This incident marks the second major security challenge for the firm in recent years, following a $44.2 million breach in July 2025. The company stated that the current losses were absorbed by the exchange itself. The recurring nature of these security gaps has drawn renewed attention to the broader transparency and audit standards currently maintained by India’s cryptocurrency exchanges.
Following the admission, industry focus has shifted to the efficacy of the automated asset-management tools employed by domestic crypto platforms. The incident remains a significant test for CoinDCX as it attempts to maintain user trust amid heightened regulatory scrutiny regarding cybersecurity practices in the Indian digital asset sector.