CoinDCX confirms $16 million loss, bringing total losses to nearly $60 million

This loss resulted from a failure in an internal process that did not successfully move customer deposits out of wallets that were retired following a $44 million hack in 2025.

The exchange has stated in a blog post that it is absorbing this loss itself, while assuring that client funds remain secure.

This admission reverses the earlier assertion made by CEO Sumit Gupta, who had previously dismissed breach reports as a "false alarm."

The $16 million loss compounds the financial difficulties for the exchange, bringing its total losses from two incidents to nearly $60 million.

The wallets involved in the recent loss were legacy addresses, remnants of the prior breach, which continued to receive residual deposits.

When blockchain researchers and the Arkham tracker initially flagged the suspicious outflows of roughly $16 million, CEO Sumit Gupta had contended on X that CoinDCX’s wallets were "not breached."

This development highlights ongoing scrutiny regarding operational integrity within regulated digital asset platforms.

Why it matters

This incident highlights ongoing operational risks within major crypto exchanges, particularly concerning legacy wallet management. Regulators and courts will be watching how exchanges handle these compounding security failures and customer fund integrity.