CoinDCX co-founder Sumit Gupta has officially denied reports of a new security breach at the Indian cryptocurrency exchange. The statement follows an alert from a security researcher at the firm Salus, who claimed that approximately $15.99 million in Tether and 5,783.81 TRX were moved from wallets associated with the platform on October 21.
According to the researcher, the funds were transferred to a single TRON address and subsequently distributed across multiple wallets, eventually reaching deposit addresses on exchanges including Binance, OKX, and Gate. The largest single transaction identified in the report amounted to approximately $15.82 million in Tether.
Gupta clarified that the flagged addresses were generated in January 2025 and were compromised during a previous security incident in July 2025, which resulted in a loss of $44.2 million. He stated that the current activity involves hackers reusing these old, compromised addresses rather than a new breach of the exchange's infrastructure.
The exchange leadership confirmed that they have audited all current central and user addresses. According to the company, none of these active wallets were involved in the recent transfers. CoinDCX maintains that all its valid addresses are publicly listed on its proof-of-reserves page and continues to investigate the situation.
