Crypto exchange Coinsbuy loses $8 million in coordinated two-blockchain attack
The crypto exchange Coinsbuy lost $8 million in a coordinated attack across the TRON and Ethereum blockchains. Despite the theft, the exchange quickly refilled the drained wallets, suggesting that private keys were not compromised.
Why it matters
The incident underscores the ongoing security vulnerabilities in cross-chain financial infrastructure and the high frequency of large-scale crypto thefts.
The attacker began with a 5 USDT transaction before draining eight TRON wallets of 6.04 million of the dollar-pegged stablecoin in about an hour. On Ethereum, three wallets were simultaneously emptied of 1.89 million USDT and 77 ETH, which was swapped to ETH via 1inch through a wallet created the same day.
Onchain records show the two chains were linked through cross-chain swapper Bridgers, whose Ethereum payout contract sent funds directly into the Ethereum swap wallet, connecting what appeared to be separate operations into a single incident.
The attacker routed some 79% of the stolen funds through instant exchange FixedFloat using roughly 50 single-use addresses. ChangeNOW separately froze a six-figure sum after being contacted by Specter Investigations .
Around 282 ETH, roughly $542,000, across five addresses remains unmoved.
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