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

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

Investigators linked transactions across TRON and Ethereum to the same suspected attacker.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 11 August 2026 15:21 IST

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

Photo Credit: Unsplash/FlyD

Stolen assets were routed through multiple wallets and crypto swapping services

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Highlights

Hacker drained funds from 11 Coinsbuy-linked wallets
Around $542,000 in Ether remains in five accounts
Coinsbuy offered up to $100,000 for information on attackers

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.

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:red_circle: COINSBUY — $8.07M drained

Coinsbuy refilled the wallets it was robbed from. 12 hours later $3.93M went back into the same ten addresses — seven matched to within 0.05% of each loss. It is still sitting there.

That only makes sense if the team does not believe the private…
— BlockWatchdog (@BlockWatchdog) August 10, 2026

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.

Bitcoin Slips Below $64,000 as Investors Await US Inflation Data

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.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Crypto hacks, Crypto Scams, Cryptocurrency, Bitcoin

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More