CoinDCX Wallets Transfer $15.99 Million in USDT Toward Exchange Deposit Addresses

Darcy (@DarcyAri) flagged a suspected $15.99 million theft from CoinDCX, with the funds later split across wallets and routed toward deposit addresses at Binance, OKX and Gate.

CoinDCX's hot wallet and several deposit addresses transferred about 15.99 million USDT and 5,783.81 TRX to a TRON address on Oct. 21 at 11:35 a.m. ET (15:35 UTC). The largest single transfer was 15,819,002 USDT. The receiving address then moved the assets to several other addresses, where the funds were divided through repeated transfers before being sent to deposit addresses at the three exchanges.

The funds did not move directly from CoinDCX to the three platforms. They first passed through a single TRON address and multiple intervening addresses, with repeated splits along the route to exchange deposit addresses.

The suspected theft involves Tether (USDT) and TRON (TRX), with the USDT amount valued at about $15.99 million. CoinDCX is an India-based cryptocurrency exchange. The traced route links the Indian platform to deposit addresses at Binance, OKX and Gate.