Coinsbuy loses $7.9 million: wallet hack in Ethereum and Tron networks
The payment service Coinsbuy has suffered serious losses — attackers withdrew about $7.9 million from its cryptocurrency wallets. The incident affected assets on the Ethereum (ETH) and Tron (TRX) networks, indicating a targeted attack on the platform's infrastructure rather than a single user error.
Blockchain analyst Specter Analyst was the first to raise the alarm, promptly tracking suspicious transactions and publishing the data in his Telegram channel. According to his information, the attack occurred on August 9 at approximately 4:00 PM Moscow time. Coinsbuy temporarily suspended processing of deposits and withdrawals, but later resumed operations, which may indicate an attempt to contain panic among clients.
Traces Lead to Monero
The attacker has already begun moving the stolen funds through exchanges and converting them into Monero (XMR) — a popular tool for anonymizing transactions. The ChangeNOW platform has frozen a six-figure sum linked to the stolen assets, which could aid the investigation. The analyst also disclosed three addresses tied to the hacker:
- 0x4d1bEF2Fe998B3E3C4029EF9EA6A0534d95661d3
- 0x66790b54B891e2ebdef58a15B969Ff6fb4374b17
- TVpX9xCzrj6KHeNhhDJoqjzEqFMxdgubGR
This hack has become the largest in August, and it has already added to the alarming statistics from DefiLlama, which records four security incidents in the crypto industry for the current month.
Trend: More Attacks, Less Damage
The Coinsbuy incident fits into the overall picture of 2026. According to TRM Labs, 207 hacks were recorded in the first half of the year — twice as many as the 83 cases during the same period last year. However, the paradox is that total damage has decreased: hackers stole about $972 million from January to June, whereas a year earlier that figure exceeded $2.3 billion. The 2025 statistics were significantly inflated by the $1.5 billion Bybit hack.
June losses of $247 million are second only to April's, when attackers withdrew approximately $644.85 million. This suggests that, despite the growing number of attacks, the industry is gradually learning to better protect its assets — but each new case, like Coinsbuy, reminds us of the fragility of trust in the digital economy.
My view: Converting to Monero is a classic technique for covering tracks, and it will seriously complicate fund recovery. However, the freezing of assets by ChangeNOW shows that cooperation between exchanges and analysts is becoming an effective tool against hackers. Investors should reassess their risks: even major platforms are not immune to attacks, and cold storage remains the only truly reliable strategy.