India’s CoinDCX Confirms $16 Million Loss Days After CEO Called It a ‘False Alarm’
Summary
Cryptocurrency exchange CoinDCX revealed a significant financial loss from retired wallets. The Mumbai-based trading platform absorbed the millions of digital tokens drained from these accounts, adding to previous security breaches.
The Mumbai-based exchange says 15.99 million USDT was drained from wallets it retired after last year’s $44 million hack, bringing its combined losses to nearly $60 million—and it’s absorbing the hit.
Source: Read the full story at Decrypt
Disclaimer: This content is for informational and educational purposes only and is not financial, investment or trading advice. Tech & Money Press is not a registered investment adviser or broker-dealer. Trading stocks, options and crypto involves substantial risk, including the loss of your entire investment. Do your own research and consult a licensed professional before making any financial decision. The authors may hold positions in the securities mentioned. News summaries are written with AI assistance from the original publisher's report and may contain errors; always check the original source. Full disclaimer.