On-chain investigator ZachXBT has flagged approximately $15.8 million in unexplained deposits on CoinDCX, one of India's largest cryptocurrency exchanges.

In an update published at 18:53 UTC on October 22, 2026, COINOTAG reported that the exchange now books the roughly $16 million as "operational losses." CoinDCX maintains that the deposits were credited to user accounts, according to the report, but the company has not explained how the funds went untracked for so long. That pairing — a loss booked on the company's side while the deposits reached user accounts, and no account of how the flow escaped tracking — leaves the mechanics of the episode unresolved as of the report's publication.

ZachXBT, a pseudonymous blockchain sleuth, is known for tracing stolen cryptocurrency and publishing on-chain investigations into hacks, exploits, and fraudulent schemes across the digital asset industry.

CoinDCX, founded in 2018 and headquartered in Mumbai, is among India's leading cryptocurrency trading platforms. The episode is not the first time the exchange's on-chain activity has drawn ZachXBT's attention. In July 2025, he flagged suspicious movements involving one of the company's operational wallets, and CoinDCX subsequently confirmed a security breach in which roughly $44 million was drained. At the time, the exchange said customer funds, held in separate custodial wallets, were unaffected and that it would absorb the losses through its own treasury. That sequence showed how scrutiny of the platform's wallets surfaced through public blockchain analysis before an official company disclosure. With the current flag, CoinX again faces questions that originated on-chain; whether it explains how deposits of this size went untracked, and elaborates on the operational-loss designation, is the immediate development to watch.

This report was first published on COINOTAG: https://en.coinotag.com/zachxbt-coindcx-15-8m-unexplained-deposits