CoinDCX Denies Connection to Recent On-Chain Transactions, ZachXBT Questions $15.8 Million in User Deposits

CoinDCX stated that recent claims on platform X regarding certain wallet addresses and transactions are misleading. The related transactions involve legacy wallet addresses created in January 2025 and compromised in July of the same year, which the platform ceased using thereafter. It asserted that recent on-chain activity is unrelated to its operations and that user funds remain secure. In response, on-chain investigator ZachXBT countered that CoinDCX's deposit address TQKJQ remained in use by liquidity providers for approximately 10 months following the July 2025 incident. These addresses continued to receive user deposits and gas fees in April and May 2026, subsequently transferring the funds to CoinDCX's currently disclosed hot wallet. He raised questions over how the CoinDCX team failed to account for the whereabouts of approximately $15.8 million in user deposits.