The cryptocurrency platform Coinsbuy experienced a loss of $8.07 million during a coordinated assault on the TRON and Ethereum networks on August 9, as reported by blockchain investigators at BlockWatchdog.

https://twitter.com/BlockWatchdog/status/2086693306851840323

The attack began with a test transaction of 5 USDT on the TRON network. Within approximately one hour, 6.04 million USDT was withdrawn from eight wallets on the blockchain, with the largest single transaction amounting to about 3.5 million USDT.

Simultaneously, the hacker drained three addresses on Ethereum, taking 1.89 million USDT and 77 ETH. The stolen funds were exchanged for 981.1 ETH through the 1inch service via a wallet that was created just an hour prior.

On-chain data linked these two parts of the attack, as the cross-chain service Bridgers was utilized. Its Ethereum payout contract directed funds to a swap wallet in amounts that matched both the size and timing of the hacker's transactions. Investigators considered these incidents to be part of a single operation.

Approximately 79% of the stolen assets passed through the exchange FixedFloat, utilizing around 50 disposable addresses. Following an inquiry, Specter Investigations reported that the ChangeNOW service froze 150 ETH (approximately $288,000 at the time of reporting). Earlier, it was noted that a "six-figure sum" had been blocked. Meanwhile, 282 ETH (around $542,000) remains inactive across five addresses.

The precise method of the attack has not been determined. Coinsbuy has not released an official statement. However, researchers noted that within 24 hours, the platform's team replenished the compromised wallets, with 3.93 million USDT sent to the same ten addresses. Seven transactions were made that closely matched the stolen amounts, accurate to within 0.05%.

“The money is still there. This only makes sense if the team does not believe there has been a leak of private keys. An address is a key: no one refills a hacked wallet with seven-figure amounts twice in one night,” emphasized the experts.

Initial reports indicated the loss at $7.9 million, but based on the analysis of individual transactions, BlockWatchdog has recalibrated the losses to $8,073,992.

It is worth noting that on July 31, around 500 owners of Coldcard hardware wallets had 594.48 BTC (approximately $38.2 million) stolen from them. Following subsequent attacks, the total amount reached 1,082.65 BTC (around $70.2 million) and later increased to 1,367 BTC (approximately $89 million).