Darcy Flags $16 Million Transfer From CoinDCX Hot Wallets

An on-chain investigator identified as Darcy flagged a transfer of about 15.99 million Tether (USDT) and 5,784 TRON (TRX) from CoinDCX hot wallets to a single TRON address on Oct. 21, raising the possibility of a $16 million security breach at one of India’s largest crypto exchanges.

The suspected $16 million figure is tied to the USDT transfer; the on-chain movement alone does not confirm a final loss. The additional 5,784 TRX was transferred at the same time, and Darcy’s tracing showed the assets later reaching Binance, OKX and Gate.

CoinDCX is one of India’s largest cryptocurrency exchanges and offers trading in multiple digital assets. A separate breach in July 2025 cost the exchange about $44 million. The latest suspected incident puts another large wallet movement at the center of security concerns for a platform with a recent history of a significant loss.

Crypto exchange security has drawn greater scrutiny amid a growing number of hacks and calls for stronger safeguards.