According to The Block, CoinDCX confirmed a $16 million loss linked to retired cryptocurrency wallets within days of its chief executive Sumit Gupta describing early breach reports as a “false alarm.” On Wednesday Gupta addressed users on X (formerly Twitter) and said the initial reports sounded like a false alarm. The exchange later acknowledged that funds held in wallets no longer active or accessed by users have been lost, amounting to $16 million. No details were provided about which wallets, when the loss occurred, or how the retirement of the wallets led to the shortfall. Gupta’s statement regarding early reports was made publicly on X; CoinDCX’s confirmation came after that comment.
