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An Indian Exchange Lost $16 Million From Wallets It Said It Had Retired. Is It Safe to Leave Crypto on an Exchange?

An Indian Exchange Lost $16 Million From Wallets It Said It Had Retired. Is It Safe to Leave Crypto on an Exchange?

Quick Read

  • CoinDCX lost $16 million in USDT from old wallets after a July 2025 hack, but covered the loss and said customer funds were unaffected.

  • Crypto on exchanges carries no FDIC or SIPC protection, a fact illustrated by Mt. Gox creditors who have waited nearly 13 years and still aren’t fully repaid.

  • Splitting holdings by keeping a small trading balance on an exchange while storing the rest in a self-custody wallet limits your exposure if an exchange fails.

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CoinDCX, India’s largest…

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