CoinDCX, which lost approximately $44 million last year, is facing new suspicions of an attack after a transfer of approximately $16 million linked to its wallets.
According to a report citing Darcy, Wu Blockchain’s on-chain researcher, 15.99 million USDT and 5,784 TRX were transferred on October 21 to a single TRON address from accounts linked to the hot wallets and deposit addresses of CoinDCX, one of India’s largest crypto exchanges. The reported transactions included a single transfer of 15.82 million USDT.
Funds were sent to addresses at three exchanges
According to the researcher’s findings, the funds collected at the same address were later split into smaller amounts and sent to Binance, OKX, and Gate deposit addresses. These platforms have been identified as the destinations of the reported transfers.
As of Wu Blockchain’s October 22 post, the incident had not been officially confirmed as a theft or security breach. The approximately $16 million figure therefore does not represent a confirmed loss, but rather the value of the suspicious transfers.
CoinDCX was also attacked last year
CoinDCX lost approximately $44 million in a separate attack in July 2025. The latest allegation has once again raised questions about the exchange’s wallet security in the wake of that incident; official confirmation about the nature of the recent transfers is still pending.
Not investment advice.