Now Reading: Crypto exchange Coinsbuy loses $8 million in cross-chain hack
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Crypto exchange Coinsbuy loses $8 million in cross-chain hack
The Story in Brief
The Story in Brief
Crypto exchange Coinsbuy has lost over $8 million in a coordinated attack spanning the TRON and Ethereum blockchains. The hacker drained more than $6 million in stablecoins from eight TRON wallets and also took USDT and Ether from three Ethereum wallets. Most stolen assets were moved through crypto swapping and exchange services. Coinsbuy says no customers lost money and the platform is still operational while investigations continue.
The Indian Opinion
Every crypto hack gets breathless coverage as proof the system is broken. But Coinsbuy says customer funds are safe, and the platform is still running. The real test is whether exchanges will finally adopt mandatory cross-chain security audits, not just wallets sitting on a single blockchain. How many more hacks before investors demand that as standard?
Source: gadgets360.com
This story was synthesised by AI from the source linked above. Methodology and corrections.
Ashin Xavier: interesting
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