Hacking News
CoinDCX Confirms $15.99 Million Loss Due to Failed Automated Transfer
Indian cryptocurrency exchange CoinDCX has confirmed a $15.99 million loss linked to retired wallet infrastructure. The CEO initially dismissed reports of suspicious outflows as a false alarm. The exchange explained that a failed automated transfer process allowed deposits to accumulate in vulnerable addresses, resulting in the loss. CoinDCX absorbed the financial impact and acknowledged that the loss occurred due to the failure of its automated transfer service, which failed to transfer funds to primary wallets as intended.