TREE NEWS reports: Onchain Lens has challenged CoinDCX’s account of a hacking incident, saying user deposits flowed into a wallet excluded from the exchange’s fund accounting before nearly equal amounts were moved out. Some funds were routed through uncommon cross-chain bridge entry points and services, the on-chain analyst said. It added that funds possibly linked to CoinDCX hot wallets passed through OTC services and mixing platforms, and questioned the team’s continued denial of a security incident despite evidence from researchers and on-chain investigators.
Onchain Lens Questions CoinDCX Hack Claim, Flags Undisclosed Wallet Flows
AI take
The dispute has shifted from whether a hack occurred to whether CoinDCX's disclosed fund accounting is complete. An omitted wallet handling user deposits before near-equal outflows is a reconciliation question, not just a forensic one, and the use of uncommon bridge entry points and OTC or mixing services complicates attribution. For exchange users and counterparties, the credibility of reserve and custody disclosures is the real issue. Whether CoinDCX addresses the excluded wallet directly, and whether independent investigators converge on the same flow mapping, is the open question.
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