Crypto
$7.9M Stolen from Coinsbuy Wallets on Ethereum, TRON
A significant cyberattack has compromised the wallets of Coinsbuy, a crypto payment processor, resulting in an estimated loss of $7.9 million across the Ethereum and TRON blockchains.
The attacker rapidly transferred the stolen funds through various exchanges before beginning to convert them into Monero, a privacy-focused cryptocurrency designed to obscure transaction trails.
Security firms have identified several involved exchanges and managed to freeze part of the funds, but Coinsbuy has yet to disclose any information regarding the breach's cause, nature of the stolen assets, or potential reimbursement plans for affected users.