Add as a preferred source on GoogleCoinDCX Confirms $15.99 Million Loss After Wallet Sweep Failure
The exchange said deposits remained in retired wallet infrastructure after an automated transfer process failed. Active customer systems and deposit balances were unaffected.
Crypto exchange CoinDCX confirmed it absorbed a $15.99 million loss in USDT after an automated wallet-sweeping service failed, leaving deposits in infrastructure the company had retired.
The company said deposits kept accumulating because the automated process stopped moving funds out of deposit wallets. CoinDCX said it covered the loss and that its active customer-facing systems and customer deposit balances were unaffected.
The wallet activity occurred Oct. 21, and the exchange confirmed the loss Oct. 25. CoinDCX initially called the activity a false alarm before later acknowledging the loss.
A sweeping service moves deposits from individual wallet addresses into other wallet infrastructure. CoinDCX said the affected wallets had been compromised during its 2025 security incident and were retired afterward. The company did not provide further details on why the automated service failed in its Oct. 25 update.
Simon Yoon
ReporterSimon Yoon reports on blockchain technology for TokenPost. Send corrections or tips to info@tokenpost.com.