PANAMA CITY, Panama– Cryptocurrency exchange Coinsbuy lost more than $8 million in a coordinated attack spanning the TRON and Ethereum blockchains over the same weekend, and industry losses are nearing $1 billion so far in 2026, a new report states.
CoinDesk reported the attack occurred Sunday, Aug. 9, citing on-chain data reviewed by blockchain security researchers.
According to the report, the attacker began with a transaction involving 5 USDT before siphoning 6.04 million USDT, a dollar-pegged stablecoin, from eight TRON wallets within an hour.
At the same time, three wallets on the Ethereum blockchain were drained of 1.89 million USDT and 77 ETH, CoinDesk reported.
On-chain records showed the activity on the two blockchains was connected through cross-chain swapper Bridgers, indicating what initially appeared to be separate operations were part of a single coordinated attack, according to CoinDesk.
Drained Wallets are Replenished
Coinsbuy replenished the drained wallets to within 0.05% of their pre-attack balances within 24 hours. Researchers said the rapid replenishment suggests the company does not believe its private keys were compromised, CoinDesk reported.
Coinsbuy told CoinDesk the breaches had been “contained” and that the company covered all of the affected funds from its own reserves.
“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,” the company said.
Recent Incidents
The incident comes amid a series of cryptocurrency thefts. CoinDesk reported approximately $972 million was stolen from the cryptocurrency sector during the first seven months of 2026.
Among other recent incidents:
- Blockchain network Wemix said an attacker compromised ownership of its WEMIX$ stablecoin.
- Cryptocurrency wallet SecondFi said it would begin winding down following a breach in which attackers stole $2.4 million.
- An attack earlier in August resulted in the theft of more than $100 million after criminals exploited a vulnerability affecting older versions of firmware used by Coldcard, a popular bitcoin hardware wallet manufactured by Coinkite.
The Coinsbuy incident remains under investigation, and the company has not disclosed additional technical details about how the attackers gained access to the affected wallets.
