Crypto platform Coinsbuy lost $8.07 million in a coordinated attack on the TRON and Ethereum networks on August 9, according to blockchain researchers from BlockWatchdog.
The attacker began with a test transaction of 5 USDT on the TRON network. Within about an hour, $6.04 million USDT was withdrawn from eight blockchain wallets, with the largest transaction amounting to approximately $3.5 million USDT.
Simultaneously, the hacker drained three addresses on Ethereum of $1.89 million USDT and 77 ETH. The funds were exchanged for 981.1 ETH through 1inch using a wallet created within the same hour.
On-chain data linked both parts of the attack through the use of the cross-chain service Bridgers. Its payout contract in Ethereum directed amounts to a swap wallet that matched the attacker’s transactions in size and timing. Researchers considered these episodes part of a single operation.
About 79% of the stolen funds passed through the exchange FixedFloat, utilizing approximately 50 disposable addresses. After Specter Investigations intervened, the service ChangeNOW froze 150 ETH (around $288,000 at the time of publication). Earlier reports mentioned a six-figure sum being blocked. Another 282 ETH (approximately $542,000) remains unmoved across five addresses.
The exact attack vector has not been established. Coinsbuy has not provided official comments. However, researchers noted that within a day, the platform’s team replenished the affected wallets—$3.93 million USDT was sent back to the same 10 addresses. Seven transactions matched the stolen amounts to within 0.05%.
“The money is still there. That only makes sense if the team does not believe in a private key leak. An address is a key: no one replenishes a hacked wallet with seven-figure sums twice in one night,” experts emphasized.
Initial reports cited losses of $7.9 million, but BlockWatchdog’s calculation of individual transactions determined losses at $8,073,992.
Previously, on July 31, approximately 500 Coldcard hardware wallet owners lost 594.48 BTC (around $38.2 million). Following a subsequent wave of attacks, the amount reached 1082.65 BTC (approximately $70.2 million), and later increased to 1367 BTC (around $89 million).
