Ethereum
Attackers drain $8 million from Coinsbuy across Tron and Ethereum
An attacker stole more than $8 million from crypto exchange Coinsbuy by moving funds across two blockchains and through multiple cryptocurrency services.
An attacker siphoned over $8 million from Coinsbuy on Sunday by targeting wallets on both Tron and Ethereum networks, according to analysis by blockchain investigator BlockWatchdog. The theft began with a test transaction of 5 USDT on Tron, followed by the draining of more than 6 million USDT from eight Coinsbuy wallets. On Ethereum, the attacker took another 1.89 million USDT and 77 ETH from three wallets.
BlockWatchdog traced the perpetrator's movements using the cross-chain swap service Bridgers, finding that approximately $6.34 million—79% of the stolen funds—was routed through FixedFloat. An additional 150 ETH was sent through ChangeNOW. Another 282.2 ETH, worth roughly $542,000 at the time, sat untouched across five addresses.
Coinsbuy responded swiftly, replenishing affected wallets within hours. The platform returned around $3.93 million to the same 10 addresses that were compromised, with seven deposits matching the original stolen amounts to within 0.05%. BlockWatchdog's analysis suggests the decision to refund suggests Coinsbuy did not believe its underlying private keys were compromised. The exact attack vector remains unclear, though BlockWatchdog speculated the attacker may have gained access to the platform's withdrawal system rather than obtaining private keys directly.
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