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News

CoinStats iOS Scam Causes Massive User Losses

June 23, 2024 - Around 2 mins mins to read

Key Points:

  • CoinStats temporarily shut down due to a security breach affecting 1,590 wallets, involving scam notifications.
  • The CoinStats iOS scam mainly targeted created wallets, but some external wallets like Trust Wallet were also affected.
  • Blurr.eth lost 3,657 Maker tokens worth $8.76 million, sold for 2,482 Ethereum.
CoinStats, a leading crypto portfolio tracking platform, has temporarily shut down its application to address a security incident impacting its iOS users.
CoinStats iOS Scam Causes Massive User Losses

Read more: CoinStats Review: The Home to Your Crypto, DeFi, and NFTs

CoinStats iOS Scam Causes Platform Suspension

On June 22, CoinStats reported that a breach affected 1,590 wallets, constituting 1.3% of all CoinStats Wallets. Connected wallets and centralized exchanges (CEXes) were not impacted by this breach.

The. CoinStats iOS scam involved a notification that misled users with a false reward claim. It directed users to log into the CoinStats AirScout wallet via a malicious website.

The CoinStats iOS scam notification, which was promoted through a push notification and an in-app message, falsely informed users they had won a 14.2 ETH reward as part of an event celebrating the platform surpassing 2 million users and launching CoinStats AirScout. The message mentioned users’ crypto had been transferred to the CoinStats AirScout Wallet.

CoinStats clarified that the breach specifically targeted wallets created within their app. The company is investigating the issue and has advised users with affected wallets to move their funds immediately using their exported private keys. A link to the list of affected wallets by CoinStats iOS scam has been provided by the company and users are assured that significant changes to this list are not expected as the investigation progresses.

Blurr.eth Loses $8.76 Million in Maker Tokens

Despite CoinStats’ assurances that only internally generated wallets were compromised, reports on Reddit and X indicate that some externally connected wallets, including Trust Wallet and Coinbase Wallet, were also affected.

Among the most significant losses reported was a wallet belonging to Blurr.eth, which lost 3,657. Maker (MKR) tokens, valued at approximately $8.76 million. The stolen MKR was sold on-chain for 2,482. Ethereum (ETH).

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

CoinStats

CoinStats AirScout Wallet

CoinStats iOS Scam

ETH

Ethereum

iOS

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.