CoinCDX denies being hacked as researchers trace outflows from old hot wallets

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CoinCDX denied a new hacking incident after on-chain data showed associated wallets transferring out $15.99M USDT and 5,783.81 TRX. The exchange said the addresses were wallets from before the July 2025 hacking incident, with funds routed through intermediary addresses to hot wallets at Binance, OKX, and Gate. Researchers said the wallet continued to be used for DeFi liquidity provision and to receive user deposits, while about $15.8M in user funds was not accounted for in the proof of reserves.