CoinDCX Rejects New Hack Claims and Points to 2025 Incident
CoinDCX co-founder Sumit Gupta rejected claims of a fresh $16 million hack after a researcher tracked about $15.99 million USDT leaving wallets tied to the exchange. He said those addresses had been compromised in the July 2025 breach and were linked to CoinDCX before that attack.
The dispute centers on whether recent transfers represent a new security failure or activity from wallets already compromised. A researcher reportedly traced roughly $15.99 million in USDT moving from addresses connected to CoinDCX. Sumit Gupta, a co-founder, disputed the fresh-hack characterization, saying those wallets were affected in the July 2025 incident and had ties to the exchange before that breach. The exchange’s account therefore frames the movement as linked to an earlier compromise rather than a separate $16 million loss.
For users, the main effect may be uncertainty: conflicting explanations for large stablecoin transfers could make it harder to judge whether exchange-held funds are safe. Traders and businesses relying on CoinDCX may face heightened scrutiny or temporary caution, while the wider crypto sector could see renewed attention to how exchanges disclose and investigate past breaches. Regulators and researchers may also use such disputes to push for clearer incident reporting, though the actual impact depends on facts not yet established.