Crypto Exchange Coinsbuy Loses Over $8 Million in Coordinated Cross-Blockchain Attack

Crypto exchange Coinsbuy experienced a loss exceeding $8 million (roughly Rs. 76 crore) through a joint attack on the TRON and Ethereum blockchains on August 9. In the beginning, the hacker initiated a transfer worth 5 USDT, and then stole 6.04 million dollars' worth of stablecoin from eight TRON wallets within an hour. On the Ethereum network, the hacker transferred 1.89 million USDT and 77 ETH from three wallets, which were immediately converted into ETH using the 1inch wallet.

Investigators Trace Stolen Assets Through Multiple Crypto Services

According to Onchain records, the two chains were connected through a cross-chain swapper known as Bridgers, who used an Ethereum payment contract to pay directly into his Ethereum swap wallet, connecting what appeared to be separate operations into a single incident. The hacker moved about 79 percent of the stolen coins through the instant exchange FixedFloat via about 50 unique wallets. ChangeNOW subsequently froze a six-figure amount upon being informed by Specter Investigations.

Approximately 282 ETH, around $542,000 (roughly Rs. 5.1 crore), in five accounts still sits untouched. Within 24 hours, the exchange Coinsbuy managed to refill the emptied accounts to within 0.05 percent of what they had before the attack, which, according to studies, suggests that the attackers do not consider the private keys stolen. The attack vector has not been established. 

“No client has borne any loss. The platform is stable and operating normally. Investigation is underway, and we cannot disclose further technical details at this stage,” Coinsbuy said in a statement. Furthermore, Coinsbuy has announced a reward of up to $100,000 (approximately Rs. 95 lakh) in exchange for the identification of the people involved, plus another reward in case the money is recovered. 

This incident comes at a time when reports have shown that crypto losses have hit $1 billion (roughly Rs. 9,543 crore) during the first half of 2026, as the sector witnessed its highest tally of hacks within six months, claims on-chain security platform Blockaid. The two blockchain networks, Ethereum and Solana, experienced the biggest impact of attacks on their systems, with the value lost worth around $332 million (roughly Rs. 3,169 crore) and $326 million (roughly Rs. 3,111 crore), respectively. While code exploitation was the cause of Ethereum attacks, keys and signing infrastructure breaches were the reason behind Solana losses.