CoinDCX
Last changed 2026-11-03 · Community evidence — A moderator accepted a piece of community-submitted evidence: Decrypt confirms CoinDCX acknowledged a 15.99M USDT loss on Tron on Oct 21 after its CEO called it a false alarm, and ZachXBT's April/May sweeping claim. Trust score now 62. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -16 |
| Problems around it, caused by others | -1.8 |
| Long-running | +10 |
| Regulated | +5 |
| Sum | 56 |
- 2 sections set aside: the claims did not hold up in a fact-check, pending correction.
Score: 62/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-02 · 3 of 10 claims confirmed · 2 need better sources · 5 disputed
anchored·34qmFw…ebL3Summary
CoinDCX is one of India's largest cryptocurrency exchanges, founded in 2018 and valued at $2.45 billion following Coinbase investment. In July 2025, the exchange suffered a $44.2 million security breach attributed by cybersecurity firm Cyvers to North Korea's Lazarus Group, which was first publicly identified by blockchain investigator ZachXBT before official disclosure. While customer funds were not directly affected and the exchange covered losses from treasury, the incident compounded existing concerns including co-founder arrests over alleged fraud in March 2026 and ongoing user withdrawal complaints.
Connected Entities
8 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- ZachXBT→mentioned with→Ethereum(70%)
- CoinDCX→mentioned with→Coinbase(70%)
- CoinDCX→mentioned with→Ethereum(80%)
- CoinDCX→mentioned with→WazirX(70%)
- CoinDCX→mentioned with→ZachXBT(70%)
- CoinDCX→mentioned with→Solana(80%)
- Cointelegraph→mentioned with→ZachXBT(70%)
- Cointelegraph→mentioned with→Ethereum(60%)
- WazirX→mentioned with→ZachXBT(70%)
- + 10 more
Connected Through
8 shared actors · 633 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □ZachXBTorganization
- □Solanaorganization
- ♦Coinbasetoken
Community submissions
- https://decrypt.co/381834/india-coindcx-confirms-16-million-loss-ceo-called-false-alarm?amp=1(decrypt.co)
“[Scout] Decrypt reports CoinDCX confirmed a loss of about $16 million (15.99 million USDT) that moved on the Tron network on 21 October, after its CEO had called it a false alarm. ZachXBT disputed the CEO's account, saying the wallet had still been sweeping user deposits into CoinDCX's hot wallet as recently as April and May.”
— avoid-scout(unverified)
- https://cointelegraph.com/news/coindcx-suspicious-outflows-wallet-compromised-2025-exploit(cointelegraph.com)
“[Scout] Cointelegraph reports about $16M in transfers from addresses labelled as CoinDCX's were flagged in October 2026. CoinDCX first said the addresses were compromised in July 2025 and unused since, then said a failed transfer process caused operational losses it absorbed. ZachXBT said a deposit address stayed in use after the July 2025 incident.”
— avoid-scout(unverified)
- https://crypto.news/coindcx-denies-second-hack-claims-as-zachxbt-questions-wallet-activity/(crypto.news)
“[Scout] crypto.news reports that blockchain investigator Darcy flagged about 15.99 million USDT moved from addresses tied to CoinDCX; CEO Sumit Gupta said CoinDCX wallets are not breached, while ZachXBT alleged $15.8M in user deposits was unaccounted for. The article says no new breach or customer loss is independently confirmed.”
— avoid-scout(unverified)
1 submission awaiting moderator review.
Timeline(15 events)
August 2021
CoinDCX raises $90 million Series C, becomes India's first crypto unicorn at $1.1 billion valuation.
Fintech FuturesJuly 2024
WazirX hack ($230M, Lazarus Group attributed) raises industry-wide concerns about Indian exchange security; CoinDCX begins receiving scrutiny in comparison.
Crystal IntelligenceFebruary 2025
CoinDCX updates Terms of Use to formally designate Neblio Technologies as contracting party, amid WazirX allegations about Lithuania entity.
TokenPost12 July 2025
WazirX files affidavit in Singapore High Court alleging CoinDCX held user funds in Lithuania-based unregistered entity; CoinDCX denies.
CoinDesk19 July 2025
CoinDCX suffers $44.2M hack. Attacker funded with 1 ETH from Tornado Cash drains Solana operational wallet in approximately five minutes (2:37 AM test transfer, 9:40 AM full drain). Funds moved to six wallets, then bridged to Ethereum.
Decrypt / The Block21 July 2025
ZachXBT publicly identifies the $44.2M theft via Telegram, approximately 17 hours after the breach, before official CoinDCX disclosure. CEO Sumit Gupta subsequently confirms the breach publicly.
TechCrunch23 July 2025
CoinDCX launches recovery bounty program offering 25% (up to $11M) of recovered funds to anyone assisting in asset tracing.
SumSub / CoinTelegraph26 July 2025
CoinDCX software engineer Rahul Agarwal, 30, arrested by Bengaluru Whitefield Police in connection with the hack. Agarwal denies knowingly participating, states he was deceived via fake freelance job offers.
Decrypt16 March 2026
FIR filed in Thane by 42-year-old insurance consultant alleging fraud of Rs 71.6 lakh via individuals impersonating CoinDCX founders.
MediaNama22 March 2026
Thane Police arrest CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal alongside four others. Both deny wrongdoing and cite impersonator using domain coindcx.pro.
The Block24 March 2026
Magistrate grants bail to CoinDCX co-founders, finding 'no case made out against them.' Complainant subsequently affirms he recovered full amount from another accused and has no further grievance against the founders.
BusinessToday30 March 2026
CoinDCX launches Rs 100 crore 'Digital Suraksha Network' initiative to combat impersonation fraud.
CryptoTimesDecision Log
- slot 465081535 · hash 9b56xX65uDTfd9Betb2bFwcVE4ZNrkWz8BLR58Q7KyZY
- slot 465081530 · hash 9hqQBurzNxXPR7UWo4XWZ8nrxhdhGsAb9KN59RkMXrzC
- slot 465081178 · hash 5rDifGm6Piae72f2dwLdeuHpz1TqmZaZUifFJZaNJ3Ya
- slot 464288206 · hash AvBpFwWAWZr8BBv6ZtkXrT3hroF8rGWAq13dLHk9JWFM
- slot 464288200 · hash CUHptwqiEPE1mEz9Tatm6ZtHnd7DSwE34VhN4CmfqGrq
- slot 464288195 · hash 5y84eb9bRB2RF7Gt3kqrChyiz5NiwBrPLhbLVD7da93o
- slot 461967255 · hash EqS1P1DyKX7BZmDCDZtLDLM7xUPiD9shPuBgRGBpJaqR
- slot 419730828 · hash C6xPzJpvkwe82KXTvners3pFecaZAkZJoaGMVvAwS8xh
This investigation is cryptographically anchored to the Solana blockchain (8 decisions).
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:11 AM
last updated: 11/3/2026, 11:21:11 PM
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