Coinsbuy loses $7.9 million: analysis of the attack on cryptocurrency wallets and alarming trends of August
The cryptocurrency payment platform Coinsbuy has suffered a serious blow: attackers hacked its wallets, stealing assets worth $7.9 million. This event once again exposes the fragility of infrastructure even among services that position themselves as reliable bridges between fiat and digital assets.
The attack affected wallets linked to Coinsbuy's payment infrastructure on the Ethereum (ETH) and Tron (TRX) networks. Blockchain analyst Specter Analyst was the first to raise the alarm, publishing details of the incident in his Telegram channel. According to his data, the hack occurred on August 9 at approximately 4:00 PM Moscow time. Coinsbuy promptly suspended deposits and withdrawals, but the service later resumed operations, which may indicate an attempt to contain the damage.
Traces Lead to Monero
The attacker has already begun laundering the stolen funds, moving them through exchanges and converting them into Monero (XMR), a cryptocurrency with enhanced anonymity, which significantly complicates tracking. Notably, the platform ChangeNOW has frozen a six-figure sum linked to the stolen assets, demonstrating the importance of cooperation between services in the fight against hackers. The analyst also published three addresses allegedly connected to the theft: 0x4d1bEF2Fe998B3E3C4029EF9EA6A0534d95661d3, 0x66790b54B891e2ebdef58a15B969Ff6fb4374b17, and TVpX9xCzrj6KHeNhhDJoqjzEqFMxdgubGR.
August Sets Records, but Losses Decline
This incident has become the largest hack of August, adding to the month's grim statistics. According to DefiLlama, four security incidents in the crypto industry have already been recorded in August. However, the overall picture for 2026 looks paradoxical: the number of attacks is rising, while total losses are falling. TRM Labs counted 207 hacks in the first half of 2026, double the 83 incidents from the same period last year. At the same time, hackers stole approximately $972 million between January and June, whereas that figure exceeded $2.3 billion a year earlier. The 2025 statistics were significantly inflated by the $1.5 billion Bybit hack.
The Coinsbuy incident occurred after a series of losses in cryptocurrencies that exceeded $247 million in June. June ranks second in damage only to April, when hackers stole approximately $644.85 million.
My view: The decline in total losses amid a rise in the number of attacks is a worrying signal. Hackers are becoming more dispersed and targeting less protected but smaller targets, which complicates their tracking. Coinsbuy is another reminder that even trusted payment gateways are not immune to hacks, and users should diversify their asset storage, favoring cold wallets.