CoinDCX Warns Users of Phishing as Exchanges Investigate Similar Activity

CoinDCX warned users that scammers are impersonating the India-based crypto exchange in notices and emails, directing recipients to external links, prompting wallet connections and seeking account information as other exchanges investigate similar activity.

CoinDCX said other exchanges had reported similar activity and were investigating it together. The exchange said it will not ask users for private keys, recovery phrases or one-time passcodes, and will not send links asking them to withdraw funds.

The warning follows CoinDCX’s Oct. 25 disclosure of a separate $15.99 million loss tied to a retired wallet. Customers continued sending deposits to those addresses after they were retired, while an automated collection process failed for a period, leaving funds there. CoinDCX said the wallet had been compromised in July 2025 and that it would absorb the loss, as described in its account of the wallet incident. The exchange said active customer wallets were unaffected and trading continued normally during the incident.