Coinsbuy said it covered all affected client funds after unauthorized withdrawals, while an onchain investigator estimated more than $7.9 million was stolen.
Wallets linked to crypto payments platform Coinsbuy were reportedly drained of more than $7.9 million across Ethereum and TRON on Sunday.
According to a Telegram post from blockchain investigator SpecterAnalyst, the attacker began moving the stolen funds into Monero through exchanges, while ChangeNOW helped freeze a six-figure portion of the assets.
Coinsbuy temporarily paused deposits and withdrawals following the incident before restoring both services, according to SpecterAnalyst. The investigator identified three addresses linked to the stolen funds, including two Ethereum addresses and one TRON address.
Incorporated in Panama, Coinsbuy is a crypto payments platform that provides businesses with infrastructure to accept, store, send and exchange digital assets.
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Coinsbuy confirmed the Aug. 9 security incident in a statement shared with Cointelegraph, saying unauthorized withdrawals affected several platform wallets. The company wrote:
It is investigating the incident but said it will not disclose technical details until the investigation is complete and its findings have been verified. The company did not confirm or dispute the reported $7.9 million figure.
Coinsbuy also offered a $100,000 reward for information leading to the identification of those responsible, plus an additional bonus for help recovering the stolen funds.
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