ZachXBT Accuses CoinDCX of Losing $16 Million in Client Funds

Analyst ZachXBT stated that CoinDCX and its co-founders failed to disclose information regarding the movement of cryptocurrency amounting to approximately $16 million, which may have belonged to the exchange's clients. Salus, the marketing director known as Darcy, pointed to suspicious transfers associated with CoinDCX addresses, including the sending of 15.99 million USDT and 5783.81 TRX to a single address on the TRON network. CoinDCX denied the existence of a new security incident, claiming that the disputed transactions were related to wallets compromised in July 2025. ZachXBT disagreed with this interpretation, noting that the compromised addresses had been used by the exchange for nearly a year, which could have jeopardized client assets. He also mentioned that the automatic fund transfer mechanism to secure storage had failed. The analyst urged CoinDCX clients to withdraw their assets, accusing the exchange of contradictory explanations. CoinDCX acknowledged that the fund transfer mechanism was not functioning correctly and incurred losses but has already compensated for them without disclosing the amount of the losses. In July 2025, CoinDCX had already faced a major attack, resulting in the theft of approximately $44.2 million.

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