Key facts
- Crypto exchange Coinsbuy lost over $8 million in a coordinated attack on Aug. 9.
- The attack spanned both the TRON and Ethereum blockchains, targeting USDT and ETH.
- On-chain analysis linked the two chains via the cross-chain swapper Bridgers.
- A significant portion of the stolen funds was laundered through the instant exchange FixedFloat.
- Coinsbuy replenished the drained wallets within 24 hours, indicating private keys were likely not compromised.
Crypto exchange Coinsbuy lost over $8 million in a coordinated attack across the TRON and Ethereum blockchains on August 9. Blockchain security researchers identified the operation as a single incident, linking the two chains through the cross-chain swapper Bridgers.
The attacker began by draining eight TRON wallets of 6.04 million USDT and simultaneously emptied three Ethereum wallets of 1.89 million USDT and 77 ETH. Approximately 79% of the stolen funds were routed through the instant exchange FixedFloat, utilizing numerous single-use addresses to obscure the trail. Separately, ChangeNOW froze a six-figure sum after being alerted by Specter Investigations.
About 282 ETH, valued at approximately $542,000, remains untouched across five addresses. Coinsbuy reportedly refilled the drained wallets to near their pre-attack balances within 24 hours, a move that suggests the exchange does not believe its private keys were compromised. The specific attack vector, however, has not been disclosed by Coinsbuy, which has not issued a public statement.
This incident contributes to a costly year for the cryptocurrency industry, which had already seen approximately $972 million stolen by late July.