Indian cryptocurrency exchange CoinDCX said it absorbed a loss of 15.99 million Tether (USDT) after a failed service left customer deposits in retired wallets linked to an earlier security incident.
In an Oct. 25 update, CoinDCX said customers had continued sending funds to the old addresses despite instructions to use new ones. Their accounts were credited when the deposits arrived, but a separate service meant to move the assets into a primary wallet stopped working for an unspecified period.
The explanation changes CoinDCX’s earlier account of the addresses. On Oct. 22, the exchange said it had not used them since a July 19, 2025, security incident. CoinDCX said it detected unusual activity on Oct. 21 and identified irregular fund movements the next day.
CoinDCX now describes the 15.99 million USDT outflow covered in earlier EconoTimes reporting as a loss it absorbed. It said customer balances, active wallets and trading systems were unaffected.
The exchange said it plans to strengthen monitoring of older systems and encourage customers to update outdated deposit addresses. It separately advised users to check the current address before making each deposit.
