Crypto Tracking Platform Reports Major Security Breach

CoinStats, a prominent crypto-tracking platform, has provided further details regarding its June security incident.

The company believes the attack, which resulted in the theft of approximately $2.2 million worth of cryptocurrency from 1,590 CoinStats Wallets, was orchestrated by the notorious Lazarus Group or a similar entity backed by a nation-state.

The breach, detected during unusual transfer activity on June 22, 2024, prompted CoinStats to immediately suspend its operations and collaborate with law enforcement and cybersecurity experts.

The attacker exploited vulnerabilities across various services linked to CoinStats, including external systems, to compromise user-created wallet private keys.

READ MORE:

UK Authorities Seize and Sell Monero from Drug Dealer

Security researchers such as ZachXBT and Taylor Monahan from MetaMask are actively tracing the stolen funds.

CoinStats has rebuilt its platform entirely to ensure enhanced security, engaging new infrastructure auditors and reinstating full functionality. While no evidence of user data theft was found, the company advises vigilance against potential phishing attempts.

Affected users are urged to transfer assets from wallets created in June and can register until August 15 for future support, though specific details regarding compensation for stolen funds have not been disclosed.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.