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Coinsbuy offers $100K reward after $7.9M wallet breach

The crypto payments platform said it covered all affected client funds and paused deposits and withdrawals before restoring services after unauthorized withdrawals.

Reported · Written up by our desk · Market Structure

Coinsbuy has offered a $100,000 reward after wallets tied to its crypto payments platform were drained in a Sunday security breach, with an onchain investigator estimating more than $7.9 million in stolen funds.

According to blockchain investigator SpecterAnalyst, the attacker moved stolen assets across Ethereum and TRON and routed part of the funds into Monero via exchanges, while ChangeNOW helped freeze a six-figure portion of the assets. SpecterAnalyst also linked the theft to three addresses, including two Ethereum addresses and one TRON address.

Coinsbuy said it temporarily paused deposits and withdrawals after the incident, then restored both services. The company also said it covered all affected client funds, and it confirmed an Aug. 9 security incident in a statement, while saying it would not share technical details until its investigation is complete.

Coinsbuy, which is incorporated in Panama and provides infrastructure for businesses to accept, store, send, and exchange digital assets, said it was investigating the breach and did not confirm or dispute the reported $7.9 million figure. The platform added that it will not disclose technical details until findings are verified, and it offered an additional bonus for help recovering the stolen funds.

Latest closeEthereum $1,876.95 ▼1.7%

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