Major Security Breach: $8.07 Million Stolen from Coinsbuy Wallets on August 9

$8 Million Crypto Heist: Coinsbuy Wallets Targeted in Major Security Breach

In a shocking incident on August 9, an attacker drained over $8 million from the cryptocurrency platform Coinsbuy, exploiting vulnerabilities across the Tron and Ethereum networks. According to blockchain investigator BlockWatchdog, the breach began with a test transaction of just 5 USDT on Tron, quickly escalating to the unauthorized withdrawal of more than 6 million USDT from eight wallets.

The attack didn’t stop there; on Ethereum, an additional 1.89 million USDT and 77 ETH were siphoned from three wallets. In total, the attacker managed to move approximately $6.34 million—79% of the stolen funds—through the FixedFloat cryptocurrency exchange, with another 150 ETH sent via ChangeNOW. Notably, BlockWatchdog reported that 282.2 ETH, valued at around $542,000 at the time, remained untouched across five different addresses.

In a swift response, Coinsbuy announced that it had replenished the affected wallets, returning around $3.93 million to the original addresses. The company reassured users that all affected funds were covered from its reserves, meaning no financial losses were incurred by customers. “The platform is back to operating normally, with all services fully available,” Coinsbuy stated.

The decision to replenish the wallets suggests that Coinsbuy’s team did not believe the private keys had been compromised. BlockWatchdog noted, “Nobody tops up a compromised wallet with seven figures twice in one night,” implying that the breach likely occurred through a different withdrawal path.

While the exact method of the attack remains unclear, BlockWatchdog speculated that the attacker may have gained access to Coinsbuy’s withdrawal system. The firm is currently conducting a thorough investigation to determine how the breach occurred and has launched a $100,000 reward initiative for information leading to the identification of the attacker, along with an additional bonus for any assistance in recovering the stolen funds.

This incident is part of a troubling trend in the cryptocurrency space, where DeFi protocols have lost over $840 million to hacks in just the first five months of 2026. Recent months have seen significant breaches, including a $24 million theft from Arbitrum-based AFX Trade and an $18 million loss from decentralized exchange Ostium.

As the investigation unfolds, the crypto community watches closely, hoping for swift justice and improved security measures to prevent future breaches.