CoinDCX Admits Losses From Old Wallet Deposits, Denies Breach Of Active Wallets

Crypto exchange CoinDCX admitted to operational losses following a failure in a process intended to secure deposits sent to old, compromised wallet addresses. The company denied any breach of its active wallets. Users continued depositing crypto into the compromised addresses despite notifications to use updated ones. CoinDCX said it regularly "sweeps" deposits sent to discontinued addresses, but the process failed for a period, leading to some operational losses which were absorbed by the exchange.

The company did not disclose the amount lost or how long the process had failed. All affected users' crypto deposits, including those sent to discontinued addresses, were credited. CoinDCX maintains that customer assets remain in segregated cold wallets, and its current central and user wallet addresses are unaffected. No funds from active wallets were compromised, and trading continued as usual.