Coinsbuy loses $7.9 million in wallet hack: incident analysis
The Coinsbuy platform suffered significant losses of $7.9 million after unauthorized access to its cryptocurrency wallet. The incident affected assets on the Ethereum (ETH) and Tron (TRX) networks, indicating a targeted attack on the payment service's infrastructure.
The first signal of the problem was a publication by blockchain analyst Specter Analyst in his Telegram channel. According to monitoring, the attack occurred at approximately 4:00 PM Moscow time on August 9. In response to the incident, Coinsbuy temporarily suspended processing of deposits and withdrawals, but later resumed operations, likely after stabilizing the situation.
Fund Movement and Response Measures
The attacker has already begun laundering the stolen assets, transferring them through exchanges and converting them into Monero (XMR) to hinder tracking. Part of the funds was frozen by the ChangeNOW platform, which blocked a six-figure sum linked to the stolen assets. Among the addresses involved in the investigation, the following stand out:
- 0x4d1bEF2Fe998B3E3C4029EF9EA6A0534d95661d3
- 0x66790b54B891e2ebdef58a15B969Ff6fb4374b17
- TVpX9xCzrj6KHeNhhDJoqjzEqFMxdgubGR
This hack became the largest in August, highlighting the ongoing vulnerability of centralized services. According to DefiLlama, four security incidents in the crypto industry have already been recorded this month, confirming the trend of increasing attack numbers.
Attack Statistics: Rising Numbers, Declining Losses
The Coinsbuy incident fits into the broader picture of 2026. TRM Labs recorded 207 hacks in the first half of the year—twice as many as the 83 cases in the same period last year. However, the total volume of stolen funds decreased: from January to June 2026, hackers withdrew approximately $972 million, whereas a year earlier that amount exceeded $2.3 billion. The $1.5 billion Bybit hack had a significant impact on 2025 statistics.
June 2026, with losses exceeding $247 million, is second only to April, when damage reached $644.85 million. This suggests that despite strengthened defenses, attackers are adapting and choosing less protected targets.
Expert Opinion: The rise in attack numbers alongside a decline in average loss amounts indicates a fragmentation of risks: hackers are shifting to smaller but less well-protected platforms. Coinsbuy is another reminder that even services with moderate transaction volumes must invest in multi-layered security, including multi-signature wallets and real-time monitoring of suspicious activity. The market as a whole is becoming more resilient, but individual players remain vulnerable.