Coinsbuy Hit by $8 Million Coordinated Attack Across Two Blockchains

Crypto exchange Coinsbuy lost more than $8 million in a coordinated attack spanning TRON and Ethereum on August 9, according to blockchain security researchers. The attacker started with a small test transaction before draining eight TRON wallets of over 6 million dollar-pegged stablecoins within roughly an hour. Simultaneously, three Ethereum wallets were emptied of stablecoins and ether, which was then swapped through a decentralized exchange using a wallet created the same day.

Cross-Chain Link Points to Single Operation

Onchain evidence connected the two seemingly separate attacks through a cross chain swap service, with funds from one blockchain routed directly into the wallet used on the other, indicating a single coordinated operation rather than two unrelated incidents. Researchers found that roughly 79% of stolen funds moved through an instant exchange platform using dozens of single-use addresses, while another exchange froze a portion of funds after being alerted by investigators. A smaller sum remains untouched.

Exchange Quietly Restores Balances

Within 24 hours, Coinsbuy replenished the drained wallets to nearly their original balances, a move researchers say suggests the exchange does not believe its private keys were compromised. The exact method used in the attack remains unknown, and Coinsbuy has not issued a public statement. The incident adds to a costly year for the crypto industry, which had already seen hundreds of millions of dollars stolen through hacks by late July.