CoinDCX has officially acknowledged a financial blow of nearly 16 million dollars after security vulnerabilities led to the draining of several legacy wallets. The admission comes as a stark reversal for the Indian cryptocurrency exchange, which had previously attempted to downplay reports that funds were missing from its ecosystem. This latest discovery is tied back to an earlier breach originating in July, suggesting that remnants of a previous attack remained active long enough for hackers to exploit them further.

The situation gained momentum when renowned blockchain sleuth ZachXBT flagged suspicious movements across the network, providing evidence that suggested a significant amount of capital had been siphoned off. For three days following these revelations, the company maintained a stance of denial. Co-founder Sumit Gupta went so far as to dismiss the findings publicly, labeling the allegations as mere rumors rather than systemic failures.

However, internal audits eventually forced the firm’s hand, leading to the confirmation that precisely 15.99 million dollars had vanished from those older accounts. The delay between the initial exposure and the official admission has raised questions among users regarding transparency and how effectively the platform monitors its dormant assets. As CoinDCX works to reconcile its books, investors are left wondering if other undetected leaks exist within their infrastructure.