CoinDCX admitted losing 15.99 million USDT, worth about $16 million, after 5,783 TRX and 15.99 million USDT left a hot wallet and several deposit addresses. The funds were dispersed to deposit addresses on Binance, OKX and Gate, while CEO Sumit Gupta initially dismissed the reports as a “false alert.” The exchange later blamed the incident on a failure in its automated sweeping service and said it had absorbed the losses, while maintaining that customer funds remain secure and its services are operating normally. On-chain investigator ZachXBT urged customers to withdraw their funds and put CoinDCX’s cumulative losses at $60 million over 15 months.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
