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CoinStats Hack: 1,590 Wallets Compromised, Users Report Missing Funds

2 mins
Updated by Lynn Wang
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In Brief

  • CoinStats suffered a security breach, compromising 1,590 wallets and causing unauthorized crypto transactions.
  • CoinStats took action by temporarily shutting down the app and advising users to move their funds to safety.
  • Despite CoinStats' assurances, users reported that externally connected wallets like Trust Wallet were also affected.
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On June 22, CoinStats, a popular crypto portfolio tracking platform, announced a security breach affecting some of its iOS users who received a scam notification claiming a reward.

This notification directed users to log into the CoinStats AirScout wallet, leading them to a malicious website. CoinStats revealed that the breach specifically targeted wallets created within their app.

Users Report External Wallet Losses Despite CoinStats’ Assurances

CoinStats quickly responded to the incident by temporarily shutting down the application to isolate the breach. They reported that the attack had been mitigated and that only 1.3% of all CoinStats wallets were affected, equating to 1,590 wallets. CoinStats assured users that connected wallets and centralized exchanges (CEXes) were unaffected.

Additionally, CoinStats provided a link to the list of affected wallets so users could check if their wallets were compromised. However, the list of impacted wallets may be updated as the investigation progresses.

Read more: 9 Crypto Wallet Security Tips To Safeguard Your Assets

“If your wallet address is in this affected list, please move your funds immediately using your exported private key (if you have exported previously),” it stated.

Despite CoinStats’ assurance that only internally generated wallets were compromised, some users on Reddit and X reported that their externally connected wallets were affected. This includes wallets such as Trust Wallet and Coinbase Wallet.

“My Ethereum in Trust Wallet is gone because it is connected to CoinStats. My Trust Wallet was connected to the CoinStats app, and I woke up this morning with a notification that all my Ethereum was sent to an address, which I did not permit. I assume this is connected to what’s happening inside CoinStats right now. Does anyone have the same situation? Can this be refunded?” a Reddit user with the pseudonym Sony Erickson queried.

Read more: Top 10 Must Have Cryptocurrency Security Tips

The recent incident emphasizes the continued vulnerabilities within the crypto industry. According to a report from blockchain security company PeckShield, in May 2024, there were around 30 crypto hack incidents.

List of Crypto Hacks in May 2024.
List of Crypto Hacks in May 2024. Source: PeckShield

These collective incidents led to losses of $574.6 million and hackers’ profits of $385 million. The report also stated that this figure marked an increase of about 666% from April 2024.

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Lynn Wang
Lynn Wang is a seasoned journalist at BeInCrypto, covering a wide range of topics, including tokenized real-world assets (RWA), tokenization, artificial intelligence (AI), regulatory enforcement, and investments in the crypto industry. Previously, she led a team of content creators and journalists for BeInCrypto Indonesia, focusing on the adoption of cryptocurrencies and blockchain technology in the region, as well as regulatory developments. Prior to that, at Value Magazine, she covered...
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