Coinsbuy hit by reported $7.9M Ethereum, TRON drain

Wallets linked to crypto payment processor Coinsbuy were reportedly drained of more than $7.9 million across Ethereum and TRON around 13:00 UTC on Aug. 9, according to blockchain investigator Specter and follow up monitoring from security firms. Summary Wallets linked to Coinsbuy reportedly lost $7.9 million across Ethereum and TRON during Sunday’s drain. PeckShield traced stolen funds through ChangeNOW, FixedFloat and BingX after Specter first flagged the drain. ChangeNOW reportedly froze a six figure amount while attackers converted part of proceeds into Monero. Coinsbuy temporarily paused deposits and withdrawals after the incident before services reportedly resumed hours later. GoPlus said activity resembled compromised hot wallet keys or administrator access, though unconfirmed by Coinsbuy. The attacker then began routing part of the stolen assets through exchanges and toward Monero, a privacy focused cryptocurrency. PeckShield said the wallets “likely lost” about $7.9 million and traced part of the proceeds through ChangeNOW, FixedFloat and BingX. CertiK’s security feed independently relayed the same estimated loss and exchange routes. The precise attack vector has not been e...