Coinsbuy loses $7.9 million: wallet hack and a new wave of attacks on the crypto market
The cryptocurrency payment platform Coinsbuy has suffered a serious hack, losing assets worth $7.9 million. The incident affected wallets on the Ethereum (ETH) and Tron (TRX) networks, indicating a targeted attack on the service's hot wallets.
According to my data, the hack was recorded on August 9 at approximately 4:00 PM Moscow time. Blockchain analyst Specter Analyst was the first to raise the alarm, detecting suspicious transactions and promptly reporting them in his Telegram channel. Coinsbuy temporarily suspended processing of deposits and withdrawals, but later resumed operations, suggesting partial containment of the damage.
The attacker has already begun moving the stolen funds through third-party exchanges and converting them into Monero (XMR) to cover their tracks. Notably, the ChangeNOW platform froze a six-figure sum linked to the stolen assets, demonstrating growing coordination among services in the fight against hackers.
I have identified the following addresses that appear to be associated with the theft:
- 0x4d1bEF2Fe998B3E3C4029EF9EA6A0534d95661d3
- 0x66790b54B891e2ebdef58a15B969Ff6fb4374b17
- TVpX9xCzrj6KHeNhhDJoqjzEqFMxdgubGR
Alarming statistics: the number of attacks is growing, but losses are declining
This incident became the largest hack of August, yet it fits into the overall trend of 2026. According to my analysis of data from DefiLlama and TRM Labs, 207 hacks were recorded in the first half of the year — twice as many as the 83 incidents during the same period last year. Nevertheless, the total amount of losses has decreased: hackers stole approximately $972 million from January to June, whereas a year earlier this figure exceeded $2.3 billion.
The reduction in damage is largely explained by the absence of attacks on the scale of Bybit, which lost $1.5 billion in 2025. However, June statistics ($247 million in losses) and April's $644.85 million serve as a reminder that the threat has not disappeared. The Coinsbuy incident is further confirmation that even mid-sized platforms remain an attractive target for attackers, especially amid the growing automation of attacks.
My expert opinion: the market is clearly moving toward consolidation of security measures, but the speed of hackers' adaptation is alarming. Platforms need to reconsider their approach to asset custody, betting on multi-signature wallets and cold storage; otherwise, such hacks will become routine, and investor trust will be undermined once and for all.