Customers of CoinDCX who kept sending crypto to wallet addresses the exchange deprecated after its July 2025 hack have had their accounts credited, the India-based exchange said on Thursday, Oct. 22, adding that it is covering the resulting losses itself.
After hackers drained about $44 million from an internal CoinDCX account in July 2025, CoinDCX says it warned users to stop depositing to the addresses compromised in that breach. Funds that still landed there, it said, were meant to be swept routinely so the exchange could secure them.
In the post, CoinDCX said that sweep “failed” for “a particular period,” a problem it said it identified Thursday morning India time. The breakdown “led to some operational losses, which were absorbed by CoinDCX,” the post said. The exchange did not say how long the sweep was down or how many users were affected.
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A Day of Conflicting Posts
Tron blockchain records show the TQKJQ address moved 15,819,002 USDT at 11:35 a.m. ET on Wednesday, Oct. 21, to a wallet created about three hours earlier. That wallet had passed on all of the USDT it received by 11:22 p.m. ET that night. Who controls it is not known. CoinDCX headed its Thursday post as a “further update on the TQKJQ wallet On-Chain activity,” but did not put a figure on its losses or say whether that transfer was part of them.
Early Thursday, CoinDCX co-founder Sumit Gupta denied a new breach, saying the flagged addresses dated to January 2025 and fell to hackers that July. “The hackers seem to be re-using the old wallet addresses and this sounds like a false alarm,” he wrote. CoinDCX said in its own X post that the addresses “have not been used by CoinDCX since” the hack.
On-chain investigator ZachXBT then alleged that in April and May 2026 TQKJQ was still sweeping user deposits into the hot wallet CoinDCX currently uses, writing that “$15.8M in user deposits was unaccounted for by your team.” CoinDCX has not confirmed that figure. Gupta replied that the team was looking into it, adding, “We assure that no user funds will be at loss.”
Chain data show TQKJQ’s first activity on March 27, 2025, and incoming USDT transfers continuing until May 4, 2026.
The exchange said customer assets sit in segregated cold wallets and that the central and user addresses it now uses were untouched.
What Users Should Do
CoinDCX told users not to deposit to deprecated addresses and to “always verify updated deposit addresses from the CoinDCX App or website.” It also cautioned that “exchanges do not typically take liability for such deposits made.” It has not said whether it will keep crediting deposits sent to those addresses.
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