Indian Exchange CoinDCX Admits $16M Hit After CEO Dismissed Suspicious Transfers

CoinDCX has confirmed a $16 million cryptocurrency loss just three days after its CEO dismissed suspicious wallet activity as a “false alarm.” The Indian exchange acknowledged that deposits had accumulated in compromised, supposedly retired wallets after an automated transfer system failed. CoinDCX says it absorbed the losses and customer balances remain safe, but blockchain investigators have challenged its account of when those wallets stopped operating. India’s cryptocurrency exchange CoinDCX has acknowledged losing nearly $16 million from compromised deposit wallets. The Oct.

Source: Bitcoin.com News