CoinDCX Denies New Hack, Links $16M Transfers to 2025 Breach
Indian crypto exchange CoinDCX has refuted claims of a new security breach, attributing flagged $16M in suspicious Tether transactions to its 2025 hack.
Indian crypto exchange CoinDCX has refuted claims of a new security breach, attributing flagged $16M in suspicious Tether transactions to its 2025 hack. Tether (USDT) is trading at $0.9992. This is an original TLT brief synthesising 3 outlets (BeInCrypto, Crypto.news, Cointelegraph), with their figures cross-checked, plus live market data, as of Thu, 22 Oct 2026 11:15:03 UTC.
The incident raises concerns about the security of user funds and the exchange's ability to protect against recurring threats, even years after a major breach.
- CoinDCX denies new hack, says flagged wallets were compromised in 2025 breach
- $15.99M in USDT moved from wallets linked to the exchange
- Blockchain investigator ZachXBT challenges CoinDCX's explanation
- USDT market cap remains stable at $182.69B despite the news
BeInCrypto and Crypto.news both report that CoinDCX has denied allegations of a new security breach, stating that the flagged $16M in Tether transactions originated from wallets compromised in its 2025 hack. However, Crypto.news adds that blockchain investigator ZachXBT has challenged the company's explanation, suggesting potential discrepancies in the official account of events.
Indian cryptocurrency exchange CoinDCX has issued a denial regarding claims of a new security breach involving nearly $16 million in cryptocurrency transfers. The exchange's co-founder, Sumit Gupta, stated that the flagged transactions were linked to wallets compromised during the platform's 2025 hack, not a new incident.
According to reports from BeInCrypto and Crypto.news, approximately $15.99 million in 
Tether (USDT) was moved from wallets associated with CoinDCX. The exchange claims these wallets were compromised in the 2025 breach, and the recent activity is a result of that earlier security incident.
The explanation provided by CoinDCX has been met with skepticism from blockchain investigator ZachXBT, who has challenged the company's account of the events. This has further fueled concerns about the security measures in place at the exchange and the potential for recurring breaches.
The incident comes at a time when the total cryptocurrency market cap stands at $2.81 trillion, with 
Bitcoin experiencing a 24-hour decline of 1.63%. The Fear & Greed Index currently sits at 68, indicating a state of 'Greed' in the market.
Despite the news, the circulating supply of USDT remains stable at $182.64 billion, with the coin's price showing minimal movement at $0.999217. This suggests that the market has not yet reacted significantly to the allegations against CoinDCX.
Since this brief published about 3 hours ago, Tether (USDT) has moved from $0.9992 to $0.9992 — +0.00%.
The chart plots USDT's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDT ≈ ₦1,366.02 (about $0.9992), up 0.0% over 24 hours. The naira itself trades about 2.4% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 outlets reporting this story.
TLT extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · October 22, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
CoinDCX Denies New Hack, Links $16M Transfers to 2025 Breach — questions & answers
What did CoinDCX say about the flagged transactions?
CoinDCX claims the transactions originated from wallets compromised in its 2025 hack, not a new breach.
Who is challenging CoinDCX's explanation?
Blockchain investigator ZachXBT is challenging CoinDCX's explanation of the suspicious wallet activity.
How much USDT was moved in the flagged transactions?
Approximately $15.99 million in USDT was moved from wallets linked to CoinDCX.
How much is 1 Tether worth in naira today?
About ₦1,366.02 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $0.9992. The naira price moves with both USDT's US-dollar price and the USDT/NGN rate; use our Tether in naira page for any amount.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from BeInCrypto, Crypto.news, Cointelegraph, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.