According to Huoxing Finance, CoinDCX has issued further clarification regarding on-chain activity related to the TQKJQ wallet, stating that after the security incident in July 2025, the affected wallet addresses were deactivated. However, some users continue to deposit funds into the old addresses. The platform’s routine fund aggregation process was temporarily inactive, and this issue was identified this morning, resulting in certain operational losses, which CoinDCX will bear.
CoinDCX stated that, despite some users depositing funds to deactivated addresses, the affected user accounts have been credited accordingly. The platform confirmed that customer assets remain securely stored in independent cold wallets, and current active wallets and user addresses remain unaffected, with platform trading operations continuing normally. CoinDCX also reminded users to verify the latest deposit addresses exclusively through the official app or website to avoid transferring funds to deactivated addresses.
Previously, on-chain detective ZachXBT questioned why the deposit address TQKJQ continued to be used for approximately 10 months after the security incident, with about $15.8 million in user deposits unaccounted for.
CoinDCX Admits That the Old Wallet Fund Consolidation Process Failed, Resulting in Operational Losses
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Summary
CoinDCX disclosed a security breach in its fund consolidation process for the TQKJQ wallet, which became non-functional following an incident in July 2025. The issue has been resolved today, but the platform confirmed operational losses. Some users sent funds to the inactive address, but affected accounts have been credited. User assets remain in cold storage, and active wallets are unaffected. CoinDCX urged users to verify deposit addresses exclusively through the official app or website. On crypto today, concerns were previously raised by ZachXBT regarding $15.8 million in unaccounted deposits linked to the address.
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