Coinsbuy reportedly suffered a $7.9 million crypto theft. Wallets linked to the crypto payments platform were drained across Ethereum (ETH) and Tron (TRX).
Blockchain investigator Specter Analyst first highlighted the incident through Telegram.
Coinsbuy Pauses Transfers After Reported Hack
Specter Analyst said the attack occurred around 13:00 UTC. Coinsbuy temporarily paused deposits and withdrawals following the incident. The platform has since resumed services, according to the report.
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The attacker began moving the stolen assets through exchanges and converting the funds into Monero (XMR). ChangeNOW also reportedly froze a six-figure amount linked to the stolen funds.
The analyst highlighted these theft addresses:
- 0x4d1bEF2Fe998B3E3C4029EF9EA6A0534d95661d3
- 0x66790b54B891e2ebdef58a15B969Ff6fb4374b17
- TVpX9xCzrj6KHeNhhDJoqjzEqFMxdgubGR
The incident is the largest crypto hack reported in August so far. DeFiLlama’s tracker currently lists four crypto-related security incidents this month.
In an official statement shared with BeInCrypto, Coinsbuy confirmed it identified the security incident on August 9, describing it as unauthorized withdrawals from several platform wallets.
The company said the issue has since been contained and that its team acted immediately to secure the platform.
“All affected client funds have been fully covered by Coinsbuy from our own reserves, so our users have not experienced any financial losses. The platform is back to operating normally, with all services fully available,” the statement read.
Coinsbuy added that a thorough investigation is underway and that it is withholding technical details for now to protect the integrity of the process, promising a further update once findings are verified.
The company also announced a $100,000 reward for information leading to the identification of those responsible, with an additional bonus on offer for any assistance that helps recover the stolen funds.
Crypto Hacks Rise as Losses Decline
The latest incident adds to a year that has seen a sharp rise in crypto security breaches. TRM Labs recorded 207 hacks in H1 2026, more than double the 83 incidents reported during the same period last year.
However, the increase in attacks has not translated into higher overall losses. Hackers stole about $972 million in H1 2026, compared with roughly $2.3 billion a year earlier. The 2025 figure was influenced by the $1.5 billion Bybit hack.
The Coinsbuy incident also follows more than $247 million in crypto losses recorded in June. That made June the second-costliest month of 2026 so far, behind April, when losses reached about $644.85 million.
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