News

CoinStats Security Incident Under Investigation to Find Lost $2 Million

Key Points:

  • The CoinStats team is tracking the stolen funds and cooperating with law enforcement to support users affected by last week’s hack.
  • The CoinStats security incident caused a $2 million loss, affecting nearly 1,600 wallets, possibly linked to North Korean actors.
  • CoinStats is uncertain about compensating users and needs more time for a full investigation and recovery.
CoinStats announced in a post on X it is tirelessly working to minimize losses and restore functionality by tracking the stolen $2 million last week.

CoinStats Security Incident: $2 Million Stolen in Phishing Attack

The CoinStats team will Security Alliance and law enforcement in multiple jurisdictions to discuss plans to support victims while preparing a detailed explanation of the CoinStats operation.

CoinStats CEO Narek Gevorgyan revealed new details about the hacker attack that drained $2 million worth of tokens from nearly 1,600 hosted wallets. The CoinStats security incident, which occurred on June 22, exploited CoinStats’ Amazon Web Services (AWS) infrastructure through a phishing scheme that initially affected iOS users. Gevorgyan suggested that the attack might be part of coordinated efforts by North Korean threat actors.

Uncertainty Surrounds Compensation for Affected Users

Despite ongoing efforts, it remains unclear if CoinStats will take responsibility and compensate the affected users. Gevorgyan indicated that CoinStats will need more time to resume operations and conduct a thorough post-mortem on the CoinStats security incident. He assured users that the breach impacted no more than 1% of all users, reiterating that around 1,590 wallets were compromised.

As Coincu reported, the hackers sent out fraudulent notifications to CoinStats’ iOS and Android users, falsely promised rewards and directed them to the CoinStats AirScout Wallet. This feature within the app facilitates rapid transactions, but the malicious notifications redirected users to a drainer website, promoted through a push notification from CoinStats and an in-app alert on the home screen.

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.

Recent Posts

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

3 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

6 hours ago

Step into BlockDAG’s Presale Frenzy This November: Secure a Massive 100% Bonus with BDAG100!

November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…

8 hours ago

OpenSea New Version Will Be Launched In December

OpenSea new version is scheduled to launch in December, with an improved user experience, improved…

8 hours ago

This website uses cookies.