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Coinsbuy loses $8M in crypto hack, attacker laundered funds via Monero privacy coin

Market News
10 Aug 2026
Crypto Briefing
View Source
Bearish
pluang ai news

Coinsbuy, a crypto payment processor for businesses, suffered a security breach draining over $7.9 million from wallets on Ethereum and TRON networks. The attacker obscured the theft by converting stolen assets into Monero, a privacy coin that hinders transaction tracing. Coinsbuy froze some stolen funds with a partner exchange and temporarily halted deposits and withdrawals, resuming operations soon after. Investigations indicate this was an isolated incident without broader systemic issues at Coinsbuy.

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