Coinsbuy, a digital asset processing platform built for enterprise and merchant clients, was hit with a major security breach that drained more than $7.9 million from wallets across the Ethereum and TRON networks. The attack, identified on August 10, marks the first publicly known hack of the platform since it launched around 2019. The attacker converted a portion of the stolen funds into Monero (XMR), a privacy coin whose features make transaction tracing extremely difficult. Coinsbuy partnered with ChangeNOW to freeze a six-figure sum before the attacker could fully liquidate the stolen assets.
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