Cryptocurrency platform Coinsbuy lost $7.9 million as a result of a hot wallet hack.
The cryptocurrency payment platform Coinsbuy has suffered a large-scale hack: attackers withdrew approximately $7.9 million from the service's hot wallets.
The incident occurred on August 9 at approximately 4:00 PM Moscow time. During the attack, wallets associated with the platform's payment infrastructure were compromised on the Ethereum (ETH) and Tron (TRX) networks. Blockchain analyst Specter Analyst was the first to notice the unauthorized transactions, publishing the data in his Telegram channel.
Platform reaction and movement of funds
Immediately after detecting the hack, Coinsbuy temporarily suspended processing of deposits and withdrawals, but later resumed service operations. Nevertheless, the attacker has already begun moving the stolen assets through exchanges and converting them into Monero (XMR), which significantly complicates tracking of the funds. Part of the stolen funds was frozen by the exchange service ChangeNOW.
Analysts identified the following addresses associated with the theft:
- 0x4d1bEF2Fe998B3E3C4029EF9EA6A0534d95661d3
- 0x66790b54B891e2ebdef58a15B969Ff6fb4374b17
- TVpX9xCzrj6KHeNhhDJoqjzEqFMxdgubGR
Alarming hack statistics
This case became the largest hack in August, but it only adds to the overall picture of growing threats in the industry. According to DefiLlama data, four security incidents have already been recorded this month.
In a broader context, the number of attacks on the crypto market continues to rise. TRM Labs counted 207 hacks in the first half of 2026 — twice as many as the 83 incidents during the same period last year. However, despite the increase in the number of attacks, the total volume of stolen funds is decreasing: from January to June 2026, hackers stole approximately $972 million, whereas a year earlier this amount exceeded $2.3 billion. A significant contribution to the 2025 statistics was made by the $1.5 billion Bybit hack.
The Coinsbuy incident occurred after a series of major cryptocurrency losses that exceeded $247 million in June. June ranks second in terms of losses only to April, when hackers stole approximately $644.85 million.
My comment: The rise in the number of attacks alongside a decline in the amount of losses indicates that the industry is becoming more resilient, but attackers are adapting by choosing less protected targets — such as payment services and custodial solutions. This is an alarming signal for platforms that must review their security protocols, especially regarding the storage of hot wallets.