- CoinStats shuts down after suffering a security breach.
- Reportedly, $2 million of funds were drained per CoinStats CEO.
As a researcher with experience in the cryptocurrency industry, I find the recent security breach at CoinStats deeply concerning. The reported loss of over $2 million from affected wallets is a significant amount and has understandably left many users feeling uneasy.
Over the past weekend, the crypto portfolio management and monitoring service, CoinStats, experienced a security incident resulting in over 1500 wallets being impacted.
At the moment of this report’s publication, more than 1500 CoinStat digital wallets have been identified as being impacted by a security breach. However, according to the company’s announcement, external wallets remain unaffected.
“Fortunately, the incident did not impact any of the linked wallets or centralized exchanges. However, approximately 1.3% of all CoinStats Wallets were affected, translating to a total of 1,590 wallets.”
The company stated that the assault on their system was lessened, yet they temporarily halted user actions and advised those with impacted wallets to transfer their assets.
CoinStats breach hit $2M
According to CoinStats’ announcement, external wallets remained unaffected. However, some users reported experiencing a drainage of funds from their external wallets. One user specifically mentioned this occurrence.
‘It did affect outside wallets. My Coinbase wallet was drained.’
On Saturday, it was alleged that an attack primarily targeted iOS device users, employing the tactic of a phishing scheme.
Approximately two million dollars were withdrawn from the afflicted wallets, according to CoinStats CEO Narek Gevorgyan.
‘Around $800,000 of which are 2 wallets who imported their seed phrases to CoinStats Wallet.’
the cyberattack could be linked to a larger series of hacking attempts orchestrated by North Korean threat actors.
At the moment of publication, it remained undetermined if the company would assume accountability and compensate the impacted users accordingly.
I, Gevorgyan, acknowledged that CoinStats requires some additional time to restore its functions and undertake a thorough investigation into the recent security incident.
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2024-06-24 13:11