CoinDCX said addresses generated earlier in 2025 were compromised in the July 2025 incident, have since been deprecated, and that users should not deposit to them or risk losses, verifying current addresses in the CoinDCX app or website instead.
[1]← Week of Oct 18Oct 18 – Oct 24 UTC Every claim links to the posts behind it01 02 03 04 05 06 07 08 09 10 6 posts on X 1 week
Microtrend / Rank 16 / Week of Oct 18 – Oct 24
CoinDCX admits a failed deposit-sweeping process caused ~$16M in operational losses after @ZachXBT told users to withdraw all funds
Peak / day7tracked accounts
Peak dayThuOct 22 · busiest day in the panel
Rest of X / peak day—not measured outside the panel
Cited claims10source links retained
Market—no token attached
Attention
Who was talking, day by day
Tracked paneldistinct tracked accounts / day
What happened
On 2026-10-22, CoinDCX published an update on the 'TQKJQ wallet' saying that addresses generated earlier in 2025 were compromised in the July 2025 incident and have since been deprecated, that users should not deposit to deprecated addresses, that users must verify current addresses in the CoinDCX app or website, and that exchanges do not typically take liability for deposits to deprecated addresses (post 2113235810988531883). The same morning, @smtgpt (153,439 followers) called the breach reports incorrect and said CoinDCX wallets 'are not breached', attributing the flagged addresses to the July 2025 hack and calling it a 'false alarm' (post 2113181173480607981). @cryptooindia (426,717 followers) reported the denial, naming CEO Sumit Gupta and saying hackers appear to be reusing the old addresses (post 2113183573033492811), then reported @ZachXBT's claim that $15.8 million in user deposits remains unaccounted for and that a flagged deposit address kept receiving deposits as recently as April and May 2026 (post 2113198863247118514). @bitcoinarchive (1,798,876 followers) amplified the withdrawal call with the claim that the exchange 'just tried to hide a $16M hack' (post 2113265902955462998). @coinbureau (1,129,549 followers) reported that CoinDCX first DENIED the $16 MILLION loss, that a co-founder said the wallets were 'not breached' and asked people not to 'spread rumours', that ZachXBT claimed an address CoinDCX called old was still sending user deposits to its current hot wallet as recently as May 2026, and that hours later CoinDCX admitted a failed sweeping process on compromised addresses caused 'operational losses' while saying it absorbed the losses and users' funds 'remain completely safe' (post 2113361784090542109). On 2026-10-23, @aaakasei (3,791 followers) summarised the CoinDCX position: that users kept depositing into old addresses compromised in July 2025, that a sweeping system was supposed to move those funds into secure wallets, that the process failed, and that this resulted in approximately $16M in operational losses (post 2113549072355524783). @gamergeniegg (3,711 followers) said you cannot withdraw crypto from CoinDCX, only INR, and called it the biggest red flag (post 2113281023022960745). @cryptowithkhan (75,877 followers) wrote that ZachXBT highlighted CoinDCX lying about $15M+ and that CoinDCX denied it before accepting it after 20 hours, and complained that some influencers defended the exchange while others used the hack to promote a competing exchange (post 2113495370626212342). @mrsinha (424,522 followers) referenced a confirmed $44M July 2025 hack and said CoinDCX's explanation of October 2026 wallet movements — denial of a fresh breach plus a failed deposit-sweeping process — has not convinced observers (post 2113946368230428924).
Why it matters
A named on-chain investigator publicly calling for withdrawals from an Indian exchange is an operational-risk story with direct user impact: the exchange itself confirms that deposits into deprecated wallets kept arriving and that its sweeping process failed, which is a control failure rather than a mere market rumor.
Observed reaction
negative
Spread
Where it started and who carried it
- First seen
- Oct 22, 08:10 UTC by @smtgpt
- Accounts
- 2 tracked · 9 elsewhere on X
- Communities
- memecoins solana (1), nft culture (1)
- Key accounts
- @bitcoinarchive, @coinbureau, @cryptooindia, @coindcx, @smtgpt
Explainability
Evidence register
@smtgpt (153,439 followers) said the breach reports were incorrect, that CoinDCX wallets 'are not breached', that the flagged addresses date to January 2025 and were compromised in the July 2025 hack, and called it a 'false alarm'.
[1]@cryptooindia (426,717 followers) reported that CoinDCX denied a new security breach and that CEO Sumit Gupta said the flagged wallets were compromised in the July 2025 hack and are being reused by hackers.
[1]@cryptooindia reported that @ZachXBT said $15.8 million in CoinDCX user deposits remains unaccounted for after the July 2025 hack, and that a flagged deposit address kept receiving user deposits as recently as April and May 2026.
[1]@bitcoinarchive (1,798,876 followers) amplified a 'Withdraw all funds from CoinDCX' alert from ZachXBT and the claim that the exchange 'just tried to hide a $16M hack' and that this was 'not the first time'.
[1]@coinbureau (1,129,549 followers) reported that CoinDCX first denied a $16 million loss, that a co-founder said the wallets were 'not breached' and asked people not to 'spread rumours', that ZachXBT claimed an address CoinDCX called old was still sending user deposits to its current hot wallet as recently as May 2026, and that CoinDCX hours later admitted a failed sweeping process on compromised addresses caused 'operational losses' while saying users' funds 'remain completely safe'.
[1]@aaakasei (3,791 followers) summarised CoinDCX's position: users kept depositing into old addresses compromised in July 2025, a sweeping system was supposed to move incoming funds to secure wallets, the process failed, resulting in approximately $16M in operational losses.
[1]@gamergeniegg (3,711 followers) said you cannot withdraw crypto from CoinDCX, only INR, and called it the biggest red flag.
[1]@cryptowithkhan (75,877 followers) wrote that ZachXBT highlighted CoinDCX lying about $15M+, that CoinDCX first denied then accepted it after 20 hours, and that influencers either defended the exchange or promoted a rival exchange off the back of the hack.
[1]@mrsinha (424,522 followers) referenced a confirmed $44M July 2025 hack and said CoinDCX's October 2026 explanation — denial of a fresh breach plus a failed deposit-sweeping process — has not convinced observers and deserves independent verification.
[1]Angles
- Timeline card: denial (2026-10-22 morning) → CoinDCX 'TQKJQ wallet' statement → admission of failed sweeping and ~$16M operational losses, with timestamps from the posts.
- Risk card: what the failed deposit-sweeping process means for users who deposited into deprecated addresses, using CoinDCX's own liability caveat.
- Accountability card: @ZachXBT's withdrawal call and the competing claims of 'no new breach' vs 'deposits still flowing to old addresses in April/May 2026'.
Formats in use
- breaking-alert quote card
- exchange-denial-to-admission timeline
- ZachXBT withdrawal-call explainer
Risks
- The hack, the loss figures and the 'unaccounted for' deposits are allegations made by posts; @coinbureau and @aaakasei report that CoinDCX denied a new breach and then attributed the losses to a failed sweeping process, so treat the hack and loss amounts as unverified until independently confirmed.
- No price prediction or advice is given here; do not frame withdrawal calls or any exchange as safe or unsafe.
- Note coordinated positioning around the event: @cryptowithkhan alleges influencers defended CoinDCX or used the hack to promote a rival exchange (post 2113495370626212342) — treat such promotion as likely paid or coordinated.
- Avoid naming or targeting individual employees beyond the public statements already cited (CEO Sumit Gupta, @smtgpt's on-record denial).
Observed content
Most-engaged posts
If you're worried about your funds on CoinDCX, read this 👇 CoinDCX is facing questions over wallet activity linked to its July 2025 hack Here's what we know so far. - CoinDCX says some users continued depositing funds into old wallet addresses that were compromised in July 2Open on X →
Funny thing is you can’t withdraw crypto from CoinDCX. You can only withdraw INR. Biggest red flag.Open on X →
avg friday in crypto 16 million reported hack on CoinDCX AI agents attacking bank accounts a16z stepping away from crypto 21 year old kimchi caught rugging people alon deleting tweets after promoting rugsOpen on X →
ALERT: “Withdraw all funds from CoinDCX.” — ZachXBT, on-chain investigator • “Exchange just tried to hide a $16M hack.” • “Not the first time CoinDCX has done it.” 👉 Not your keys, not your Bitcoin. https://t.co/VlhKcBeC3qOpen on X →
⚠️ALERT: ZachXBT tells users to WITHDRAW ALL funds from CoinDCX over a $16 MILLION loss it first DENIED. Its co-founder had said the wallets were "not breached" and asked people not to "spread rumours." ZachXBT claimed one of the addresses CoinDCX called old was still sending uOpen on X →
Further update on the TQKJQ wallet On-Chain activity. Following the July 2025 security incident, we advised users not to deposit crypto to the compromised wallet addresses. These addresses were generated earlier in 2025, were compromised during the incident, and have since beenOpen on X →
History