Crypto
$7.9M Lost in Cross-Chain Hack Targeting Coinsbuy Wallets
A recent cross-chain hack has drained approximately $7.9 million from wallets connected to crypto payment processor Coinsbuy, affecting both Ethereum and TRON networks.
The attack occurred on August 9, with the hacker likely gaining access to hot wallet private keys or administrator privileges.
The stolen funds were then traced moving through various exchanges, including ChangeNOW, FixedFloat, and BingX, before some were converted into privacy coin Monero. Notably, ChangeNOW froze a six-figure amount of the stolen funds.
Crypto security researchers continue to investigate the attack vector and potential fund recovery possibilities.