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Project Overview
CoinDCX is an Indian cryptocurrency exchange dedicated to making crypto accessible in a simple way. Established in 2018, CoinDCX has solved many problems faced by the Indian crypto community with solutions for crypto investing, trading, and literacy.
CoinDCX Security Incident Under Scrutiny: User Deposits Flowed into Undisclosed Wallet, Nearly Equivalent Funds Transferred Out
Onchain Lens posted on X questioning CoinDCX's so-called hack incident, stating that CoinDCX may have undisclosed fund anomalies—user deposits had flowed into a wallet that was not included in the relevant fund accounting, after which nearly equivalent funds were transferred out; some funds were also moved through less common cross-chain bridge entry points and services, indicating abnormal pathways.Onchain Lens further pointed out that some funds suspected to be related to CoinDCX hot wallets flowed through over-the-counter (OTC) services and mixing platforms, and questioned that the CoinDCX team still denied the occurrence of a security incident even after multiple researchers and on-chain investigators presented relevant evidence.
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.
CoinDCX Security Incident Under Scrutiny: User Deposits Flowed into Undisclosed Wallet, Nearly Equivalent Funds Transferred Out
Onchain Lens posted on X questioning CoinDCX's so-called hack incident, stating that CoinDCX may have undisclosed fund anomalies—user deposits had flowed into a wallet that was not included in the relevant fund accounting, after which nearly equivalent funds were transferred out; some funds were also moved through less common cross-chain bridge entry points and services, indicating abnormal pathways.Onchain Lens further pointed out that some funds suspected to be related to CoinDCX hot wallets flowed through over-the-counter (OTC) services and mixing platforms, and questioned that the CoinDCX team still denied the occurrence of a security incident even after multiple researchers and on-chain investigators presented relevant evidence.
CoinDCX: Fund Sweeping Process for Expired Deposit Addresses Failed, Platform Bears Related Operational Losses
Indian crypto exchange CoinDCX has released an update on the on-chain activity of the TQKJQ wallet, stating that following the July 2025 security incident, some previously generated deposit addresses were compromised and deactivated, yet some users continued to transfer crypto assets to these expired addresses. The platform would normally periodically sweep such funds for accounting and safekeeping purposes, but the relevant process failed for a period of time and was discovered this morning, resulting in certain operational losses for the platform, which CoinDCX will bear.CoinDCX stated that despite users depositing to expired addresses, the accounts of affected users have all been credited accordingly. The platform said user funds remain safe, customer assets continue to be held in separate cold wallets, the active addresses currently used by the platform and users are unaffected, and platform funds in active wallets have not been compromised. Currently, the CoinDCX platform and all trading activities are operating normally. The platform reminds users to verify the latest deposit addresses through the official app or website to avoid transferring funds to deactivated addresses.
Suspected Breach: CoinDCX Deposit Address TQKJQ and Other Wallets Swept and Assets Transferred
according to on-chain sleuth Specter's monitoring, the CoinDCX deposit address TQKJQ had been continuously transferring funds to the CoinDCX hot wallet. Subsequently, CoinDCX-related wallets, including TQKJQ, were consolidated into a single wallet, which began distributing funds, swapping assets, and using OTC services. On-chain sleuth Specter stated that this may be a sign of a wallet breach and claimed that CoinDCX and its co-founder are lying.
CoinDCX Security Incident Under Scrutiny: User Deposits Flowed into Undisclosed Wallet, Nearly Equivalent Funds Transferred Out
Onchain Lens posted on X questioning CoinDCX's so-called hack incident, stating that CoinDCX may have undisclosed fund anomalies—user deposits had flowed into a wallet that was not included in the relevant fund accounting, after which nearly equivalent funds were transferred out; some funds were also moved through less common cross-chain bridge entry points and services, indicating abnormal pathways.Onchain Lens further pointed out that some funds suspected to be related to CoinDCX hot wallets flowed through over-the-counter (OTC) services and mixing platforms, and questioned that the CoinDCX team still denied the occurrence of a security incident even after multiple researchers and on-chain investigators presented relevant evidence.
CoinDCX: Fund Sweeping Process for Expired Deposit Addresses Failed, Platform Bears Related Operational Losses
Indian crypto exchange CoinDCX has released an update on the on-chain activity of the TQKJQ wallet, stating that following the July 2025 security incident, some previously generated deposit addresses were compromised and deactivated, yet some users continued to transfer crypto assets to these expired addresses. The platform would normally periodically sweep such funds for accounting and safekeeping purposes, but the relevant process failed for a period of time and was discovered this morning, resulting in certain operational losses for the platform, which CoinDCX will bear.CoinDCX stated that despite users depositing to expired addresses, the accounts of affected users have all been credited accordingly. The platform said user funds remain safe, customer assets continue to be held in separate cold wallets, the active addresses currently used by the platform and users are unaffected, and platform funds in active wallets have not been compromised. Currently, the CoinDCX platform and all trading activities are operating normally. The platform reminds users to verify the latest deposit addresses through the official app or website to avoid transferring funds to deactivated addresses.
Related news
ZachXBT Warns Users to Withdraw Assets from CoinDCX, Calls Co-Founders "a Bunch of Clowns"
Odaily reports: "On-chain detective" ZachXBT issued a warning to users, stating that if they value the security of their assets, they should withdraw all funds from Indian cryptocurrency exchange CoinDCX. He accused CoinDCX's co-founders of previously denying that a theft had occurred in both public and private communications, only to later disclose an incident involving approximately $16 million in stolen assets, arguing that the exchange failed to transparently disclose the situation to the public in a timely manner.ZachXBT also stated that CoinDCX's co-founders are a bunch of clowns who run the exchange like a circus. This is not the first time CoinDCX has encountered such problems, and he included other Indian centralized exchanges such as WazirX and BitBNS in his criticism as well.
CoinDCX Security Incident Under Scrutiny: User Deposits Flowed into Undisclosed Wallet, Nearly Equivalent Funds Transferred Out
Onchain Lens posted on X questioning CoinDCX's so-called hack incident, stating that CoinDCX may have undisclosed fund anomalies—user deposits had flowed into a wallet that was not included in the relevant fund accounting, after which nearly equivalent funds were transferred out; some funds were also moved through less common cross-chain bridge entry points and services, indicating abnormal pathways.Onchain Lens further pointed out that some funds suspected to be related to CoinDCX hot wallets flowed through over-the-counter (OTC) services and mixing platforms, and questioned that the CoinDCX team still denied the occurrence of a security incident even after multiple researchers and on-chain investigators presented relevant evidence.
CoinDCX: Fund Sweeping Process for Expired Deposit Addresses Failed, Platform Bears Related Operational Losses
Indian crypto exchange CoinDCX has released an update on the on-chain activity of the TQKJQ wallet, stating that following the July 2025 security incident, some previously generated deposit addresses were compromised and deactivated, yet some users continued to transfer crypto assets to these expired addresses. The platform would normally periodically sweep such funds for accounting and safekeeping purposes, but the relevant process failed for a period of time and was discovered this morning, resulting in certain operational losses for the platform, which CoinDCX will bear.CoinDCX stated that despite users depositing to expired addresses, the accounts of affected users have all been credited accordingly. The platform said user funds remain safe, customer assets continue to be held in separate cold wallets, the active addresses currently used by the platform and users are unaffected, and platform funds in active wallets have not been compromised. Currently, the CoinDCX platform and all trading activities are operating normally. The platform reminds users to verify the latest deposit addresses through the official app or website to avoid transferring funds to deactivated addresses.
Suspected Breach: CoinDCX Deposit Address TQKJQ and Other Wallets Swept and Assets Transferred
according to on-chain sleuth Specter's monitoring, the CoinDCX deposit address TQKJQ had been continuously transferring funds to the CoinDCX hot wallet. Subsequently, CoinDCX-related wallets, including TQKJQ, were consolidated into a single wallet, which began distributing funds, swapping assets, and using OTC services. On-chain sleuth Specter stated that this may be a sign of a wallet breach and claimed that CoinDCX and its co-founder are lying.
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.