Tether Freezes About $2.2 Million in USDT Tied to CoinDCX Outflows

Tether froze about $2.2 million in USDT tied to CoinDCX outflows after the exchange acknowledged losses linked to a failed process for securing deposits to retired wallet addresses.

The amount applies to the frozen USDT, while CoinDCX’s acknowledgment concerns the deposit process. Deposits sent to addresses the exchange had retired were affected by the failed security process. The $2.2 million figure is the freeze amount, not a stated total for the exchange’s losses.

The incident has two parts: CoinDCX acknowledged losses tied to its handling of deposits at old addresses, and Tether froze USDT wallets associated with outflows from the exchange. The freeze links the affected funds to those outflows, while CoinDCX’s acknowledgment centers on its deposit process.

The retired-address failure connects the exchange’s loss acknowledgment with Tether’s wallet action. The reported amount describes the funds frozen in USDT, while the exchange’s losses are not given as a matching dollar figure.