Coinsbuy Offers $100K Bounty After $7.9M Hack
Crypto payments company Coinsbuy has offered a $100,000 reward for information that leads to the identification of those responsible for unauthorized withdrawals from its Ethereum and TRON wallets. The reported loss is estimated at over $7.9 million.
The incident occurred on August 9, with blockchain investigators tracing stolen assets through exchanges. Some funds were reportedly converted into Monero, a privacy-focused cryptocurrency that makes subsequent fund tracing more difficult.
Coinbuy has temporarily suspended deposits and withdrawals but has since resumed services, stating that all affected client funds have been fully covered by its own reserves.
The company is investigating the incident but has not disclosed the attack method. It will withhold technical details until its findings are complete and independently verified.