Hackers Steal $8 Million From Crypto Platform Coinsbuy

An attacker drained $8 million from Coinsbuy across two blockchains, but the company quickly refilled the emptied wallets.

A crypto platform lost more than $8 million in a single day — but the way the company responded left investigators puzzled.

On August 9, an attacker drained $8.07 million from Coinsbuy, a crypto payment platform. The money was taken across two different blockchains (public digital ledgers that record all crypto transactions): Tron and Ethereum.

According to blockchain investigator BlockWatchdog, the hacker started small — testing the attack with just 5 USDT. USDT (Tether) is a "stablecoin," a type of crypto designed to always be worth about $1. Once the test worked, the real theft began.

Here's a breakdown of what was stolen:

6 million+ USDT taken from 8 wallets on the Tron network
1.89 million USDT and 77 ETH (Ethereum's coin) taken from 3 wallets on Ethereum
About $6.34 million (79%) of the stolen funds was moved through FixedFloat, a service that swaps one crypto for another to hide where money goes (called "laundering")
Roughly $542,000 worth of ETH was left untouched

Here's the twist: Just hours after the theft, Coinsbuy quietly refilled the emptied wallets, putting about $3.93 million back into the same addresses. Investigators say this is a big clue.

Why? If the hacker had stolen the wallets' private keys (secret passwords that give full control over a crypto wallet), the company would never add more money to them — the hacker would just steal it again. So experts believe the attacker instead broke into Coinsbuy's withdrawal system, not the keys themselves.

The exact method remains unknown, and Coinsbuy had not publicly explained the breach at the time of reporting.

This attack is part of a worrying trend. Crypto hacks have surged, with DeFi platforms (decentralized finance apps that run without banks) losing over $840 million in the first five months of 2026 alone. Recent victims include AFX Trade ($24 million) and Ostium ($18 million).

The lesson for beginners: crypto platforms can be vulnerable, and even large sums can vanish in minutes.

This is an AI-generated summary. Read the original article at: https://decrypt.co/375213/hackers-drain-8-million-from-crypto-platform-coinsbuy