CoinDCX Confirms $15.99 Million Loss After Earlier Dismissal of Breach Reports

Indian cryptocurrency exchange CoinDCX has confirmed a $15.99 million loss linked to retired wallet infrastructure, days after CEO Sumit Gupta dismissed reports of suspicious outflows as a possible false alarm. The exchange says a failed automated transfer process allowed deposits to accumulate in vulnerable addresses and that the company absorbed the loss. TL;DR $15.99 million loss confirmed: CoinDCX says the loss involved 15.99 million USDT linked to old wallet infrastructure. Earlier response questioned: The confirmation followed public scrutiny of suspicious transactions and the exchange’s initial denial.