Indian crypto exchange CoinDCX said it will cover from its own funds a loss of about 15.99 million USDT. Customer deposits ended up in a retired wallet that had been compromised in the July 2025 attack, when about 44 million dollars was lost. The service that automatically moved funds out of deposit wallets failed, leaving the money exposed. The chief executive had first called the reports a false alarm before the company confirmed the loss.
What it means: The case shows that the risks at an exchange are not only outside hackers but also internal processes. A wallet that has been compromised should be treated as permanently lost, and any system that can still send money to it must be switched off and checked regularly. For Greek crypto users there is a practical lesson: before every deposit, check that the address shown in the app is the current one, and do not reuse saved old deposit addresses. The positive side is that the company covered the loss, which is not always a given. In the EU, the MiCA regulation requires crypto-asset service providers to segregate client funds, run security policies and bear liability for losses caused by their own failures, so users of MiCA-licensed providers have extra protection. Management's first denial is also a crisis-communication lesson: fast and honest updates protect trust better than denials. For Greek firms that manage digital wallets or payments, an inventory of all active and retired addresses, with automatic alerts on incoming transfers to them, is a basic control.
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