Coinsbuy offers $100K reward after Sunday security breach

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.

Source: SpecterAnalyst, Telegram

Incorporated in Panama, Coinsbuy is a crypto payments platform that provides businesses with infrastructure to accept, store, send and exchange digital assets.

Related: BTCPay restricts remote Lightning access after attackers steal funds

Coinsbuy covers client losses, offers $100K reward

Coinsbuy confirmed the Aug. 9 security incident in a statement shared with Cointelegraph, saying unauthorized withdrawals affected several platform wallets. The company wrote:

All affected client funds have been fully covered by Coinsbuy from our own reserves, so our users have not experienced any financial losses. The platform is back to operating normally, with all services fully available.