Coinsbuy Hit for $8 Million in Cryptocurrency Heist

A major cryptocurrency exchange, Coinsbuy, has suffered an $8 million hack on August 9. The attack drained funds from wallets across both the Tron and Ethereum networks. BlockWatchdog, a blockchain investigator, linked the transactions to the same attacker through cross-chain swap service Bridgers.

The attacker made off with over $6.34 million, or 79% of the stolen funds, by moving them through FixedFloat cryptocurrency exchange. Another $150 ETH was sent through ChangeNOW. However, around $3.93 million was returned to the affected wallets just hours after the theft, suggesting that the private keys may not have been compromised.

The exact attack vector is unknown, but BlockWatchdog suggests that the attacker may have gained access to Coinsbuy's withdrawal system. The investigation found no overlap with a previous hack on July 24, and different laundering patterns. Coinsbuy had not publicly explained how the attacker gained access at the time of the analysis.