Coinsbuy loses $7.9 million: wallet attack and the new reality of crypto security
The Coinsbuy platform has faced a serious security incident: attackers managed to withdraw $7.9 million from the service's cryptocurrency wallets. This event has become another alarming signal for an industry already witnessing a record surge in the number of attacks this year.
Details of the hack and the platform's response
The attack was detected on August 9 at approximately 4:00 PM Moscow time. Wallets linked to Coinsbuy's payment infrastructure, on the Ethereum (ETH) and Tron (TRX) networks, were affected. Blockchain analyst Specter Analyst was the first to notice the incident, promptly publishing the data in his Telegram channel.
Coinsbuy temporarily suspended deposits and withdrawals to implement emergency measures, but functionality was later restored. Meanwhile, the attacker has already begun laundering the stolen assets, converting them into Monero (XMR) through various exchanges. Part of the funds was frozen by the ChangeNOW platform, which blocked a six-figure sum linked to the stolen assets.
Analysts have published addresses tied to the theft for tracking the movement of funds:
- 0x4d1bEF2Fe998B3E3C4029EF9EA6A0534d95661d3
- 0x66790b54B891e2ebdef58a15B969Ff6fb4374b17
- TVpX9xCzrj6KHeNhhDJoqjzEqFMxdgubGR
Statistics: the number of attacks is growing, but losses are shrinking
This hack has become the largest in August. According to my data, four security incidents in the crypto industry have already been recorded this month. However, it is important to look at the broader picture: in the first half of 2026, 207 hacks were recorded—twice as many as the 83 incidents during the same period last year.
Notably, the rise in the number of attacks has not led to an increase in total losses. From January to June 2026, hackers stole approximately $972 million, whereas a year earlier that amount exceeded $2.3 billion. The $1.5 billion Bybit hack had a significant impact on the 2025 statistics. The Coinsbuy incident occurred after a series of June losses exceeding $247 million, which is second only to April's figure of $644.85 million.
My analysis: The paradox of the current situation is that hackers are becoming more active but less successful in terms of the scale of damage. This indicates improved efficiency of security systems and rapid incident response, but it also highlights the vulnerability of centralized payment services. Coinsbuy is another example that even small platforms must invest in multi-layered wallet protection, especially amid growing pressure from malicious actors.