Indian crypto exchange CoinDCX absorbed a $15.99 million USDT loss after attackers compromised a legacy wallet address generated in January 2025 and abandoned following a security incident in July of the same year. The funds accumulated because an automatic sweeping service was temporarily out of operation, causing some user deposits to be mistakenly sent to the inactive address before being drained on October 21.
CoinDCX confirmed that all affected users' deposits have been credited back to their accounts normally. The exchange stated that active centralized wallets and user wallets were not impacted, with customer assets remaining in separate cold storage. Trading and withdrawal services continue operating as usual.
CoinDCX Absorbs $16M Loss From Compromised Legacy Wallet; User Funds Unaffected
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
