CoinDCX Confirms $16M Loss After CEO Dismissed Wallet Concerns
Edited by Steinar Vigdel Kolnes, Editor, Oslo
CoinDCX says it covered a $16 million crypto loss tied to compromised wallets, three days after its CEO dismissed concerns about suspicious transfers.
Indian cryptocurrency exchange CoinDCX has acknowledged a $16 million loss, three days after its chief executive rejected concerns over suspicious wallet activity.
The exchange said deposits continued to build up in compromised wallets that were supposed to have been retired. It attributed the accumulation to a failure in an automated transfer system.
CoinDCX said it absorbed the loss and that customer balances remain unaffected. The disclosure reverses the earlier reassurance from its CEO about the wallet activity.
Source: Bitcoin.com News
