Coinsbuy Loses Over $7.9 Million in Crypto Drain
Coinsbuy experienced a significant security incident resulting in a loss of over $7.9 million. The attack involved wallets linked to the B2B crypto payment processor being drained across Ethereum and TRON.
On August 9, 2026, wallets associated with Coinsbuy, a B2B crypto payment processor, were compromised, leading to the theft of more than $7.9 million. The incident occurred around 13:00 UTC, with funds being drained from wallets linked to both Ethereum and TRON. Following the attack, Coinsbuy took immediate action by pausing deposits and withdrawals, although these services have since resumed.
The attacker employed a laundering technique to convert part of the stolen funds into Monero (XMR) through various exchanges. Notably, ChangeNOW was able to freeze a portion of the stolen assets, amounting to a six-figure sum, which may assist in recovering some of the lost funds. The incident highlights the ongoing risks associated with crypto payment processors and the importance of robust security measures.
The incident involved both Ethereum and TRON chains, which may complicate tracing efforts due to the nature of the transactions and the laundering process. The on-chain records for the involved addresses have not been disclosed, limiting further analysis of the specific movements of the drained funds.