CoinDCX Confirms $15.99 Million Loss from July Cyberattack Amid Backlash Over Delayed Acknowledgment

CoinDCX Confirms $15.99 Million Loss from 2025 Cyberattack Amid User Backlash

In a significant turn of events, Indian cryptocurrency exchange CoinDCX has acknowledged a staggering loss of $15.99 million stemming from a cyberattack in July 2025. This confirmation comes just three days after blockchain investigator ZachXBT first raised alarms about the suspected theft, igniting a wave of criticism directed at the exchange for its delayed response.

Initially, CoinDCX co-founder Sumit Gupta dismissed allegations of a breach, asserting that active wallets on the platform remained secure. However, the narrative shifted dramatically as the exchange was forced to confront the reality of the situation, leading to questions about its crisis management and communication strategies.

Blame Game: Failed Wallet Transfers

In its latest statement, CoinDCX attributed the loss to a failed internal wallet-transfer process. The exchange explained that some users continued to send funds to deprecated addresses, which had been rendered inactive following the 2025 hack. Although CoinDCX credited these funds to user portfolios upon arrival, the subsequent transfer to the main wallet failed, resulting in the accumulation of $15.99 million in outdated wallets.

“We took time to conduct a thorough review of the deprecated infrastructure and confirm the sequence of events,” the exchange stated. “We could have been more proactive, but we shared this update as soon as we had the complete picture.”

Erosion of Trust

Despite the explanation, user confidence in CoinDCX appears to be waning. Many users have taken to social media to voice their concerns, highlighting the lack of clarity surrounding the breach and the operational status of the old wallets. While the exchange has confirmed the financial loss, it has yet to provide a detailed account of how the breach occurred or why the deprecated wallets were still active.

As the crypto community grapples with these revelations, questions regarding CoinDCX’s security measures and transparency are likely to linger. Until these concerns are adequately addressed, the exchange may face ongoing scrutiny from users and investors alike.

Final Summary

CoinDCX’s acknowledgment of a $15.99 million loss three days after being flagged by ZachXBT has raised eyebrows. While the exchange blames failed wallet transfers for the delay, the lack of clarity on the breach itself continues to fuel skepticism among users. As the situation unfolds, the future of user trust in CoinDCX hangs in the balance.