The Indian crypto exchange CoinDCX acknowledged losing $15.99 million in the July 2025 cyberattack, three days after blockchain investigator ZachXBT flagged the suspected theft. It attributed the loss to a failed internal wallet-transfer process that left funds in deprecated wallets. Co-founder Sumit Gupta had initially denied any breach of active wallets. This change in narrative has undermined user confidence, while the exchange has still not explained precisely how the breach occurred or why the old wallets remained operational.
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