Crypto
Coinsbuy Loses $7.9 Million to Hot Wallet Hack
Crypto service Coinsbuy lost approximately $7.9 million after its hot wallet was breached by an attacker, according to PeckShield.
The attack, which occurred on unknown dates, allowed the hacker to withdraw funds from two networks: Ethereum and Tron.
The stolen assets were then split and moved through various exchange services, including FixedFloat, ChangeNOW, BingX, and Monero.
Coinbuy and its partners worked with ChangeNOW to block part of the stolen assets, but the incident highlights the risks associated with storing large amounts in hot wallets.