Indian crypto exchange CoinDCX admitted losing 15.99 million USDT, worth about $16 million, after funds were drained on the Tron network on October 21. The company blamed the loss on a failed internal process that was supposed to transfer customer deposits out of wallets retired after the 2025 hack. CoinDCX said it absorbed the loss and that customer funds remain unaffected. The disclosure contradicts CEO Sumit Gupta’s earlier denial, which characterized the breach reports as a “false alarm” just days earlier. With this new incident, the exchange’s cumulative losses since the roughly $44 million hack of July 2025 have reached nearly $60 million.
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