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Cryptocurrency portfolio manager CoinStats has temporarily halted user activity after a significant security breach affected 1,590 crypto wallets. The incident, which occurred on Jun. 22, has prompted the company to take immediate action to mitigate further damage and investigate the breach thoroughly.
In a statement posted on X, CoinStats assured its users that the situation is under control. “The attack has been mitigated, and we have temporarily shut down the application to isolate the security incident,” the company wrote. They highlighted that only 1.3% of all CoinStats Wallets were affected, totaling 1,590 wallets, and emphasized that “none of the connected wallets and CEXes were impacted.”
Extent of the Breach Still Unclear
Despite the prompt response, CoinStats has yet to disclose the full extent of the breach. The company has committed to providing updates as the investigation progresses. According to their website, CoinStats requires only read-only access to connected crypto wallets, suggesting that users’ holdings should remain secure. The platform serves as a comprehensive crypto portfolio tracker, allowing users to view all their wallets in one place.
Update on the Security Incident The attack has been mitigated, and we have temporarily shut down the application to isolate the security incident. 1. None of the connected wallets and CEXes were impacted. 2. Thanks to the immediate incident reponse from the CoinStats team,… — CoinStats (@CoinStats) June 22, 2024
To further protect its users, the compnay has temporarily shut down its website while it resolves the security issue. They have published a Google document listing all the affected wallets, advising users whose wallet addresses are listed to move their funds immediately using their exported private keys. However, the list may change as the investigation unfolds.
In light of the breach, members of the crypto community have expressed concerns about potential scams targeting affected users. Pseudonymous crypto commentator PPman warned on social media, “Scammers are smart. If your addy is in this list or if you’ve used CoinStats and posted about it, scammers may be trying to reach out to you to ‘help’ you. Do not trust anyone.”
This incident brings attention to the growing challenges and risks faced by the crypto industry as it continues to expand. With the increasing number of security breaches, users must remain vigilant and take necessary precautions to protect their assets.
Scammers are smart. If your addy is in this list or if you’ve used coinstats and posted about it scammers may be trying to reach out to you to “help” you. Do not trust anyone. — PPMan 🍌 (@_PPMan_) June 22, 2024
CoinStats Incident Part of a Growing Trend
The CoinStats security breach is not an isolated incident. Recently, several other crypto platforms have experienced similar security issues. For instance, crypto data aggregator CoinGecko confirmed a data breach involving its third-party email management platform GetResponse on Jun. 5. This breach allowed attackers to export the contact information of over 1.9 million CoinGecko users.
Additionally, a report from Crystal Intelligence on Jun. 12 revealed that the crypto industry has suffered 785 reported hacks and exploits over the past 13 years, resulting in nearly $19 billion worth of digital assets being stolen since the first known crypto hack on Jun. 19, 2011.
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