Coinsbuy Hacked: $7.9M Stolen, $100K Bounty Offered
Coinsbuy suffered a security breach with over $7.9M in unauthorized withdrawals. The exchange covered client funds and posted a $100K reward.
Coinsbuy just got hit, and the damage is real. An onchain investigator puts the haul at more than $7.9 million in unauthorized withdrawals — the kind of number that should make every crypto trader double-check where their funds are sitting right now.
Here's what the exchange wants you to know: Coinsbuy says it covered all affected client balances out of pocket. That's a bold move, and if true, it's the right one. But don't let that cushion blind you to how serious a breach of this scale actually is. Exchanges that get hit once are already on every hacker's radar.
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To claw back some ground, Coinsbuy is dangling a $100,000 reward for information leading to the attacker. Bounties like this occasionally work — blockchain forensics have matured enough that bad actors do get caught. Whether this one lands remains to be seen, but the pressure is public and on the record.
The breach reportedly happened on a Sunday, which is classic timing. Weekends are when security teams are thin and response times slow. If you're active in crypto, that's your reminder: set withdrawal alerts, use hardware wallets for anything you're not actively trading, and treat exchange hot wallets like a checking account — not a savings account.
This story is still developing, and the full scope of the exploit hasn't been officially confirmed by Coinsbuy. Watch the onchain data and the exchange's official channels closely. Continue reading at Cointelegraph.
