Coinsbuy Platform Hack: $7.9M in USDT Stolen, Funneled Through Mixers to Monero
Approximately $7.9 million in USDT was drained from wallets linked to the Coinsbuy platform. The hacker reportedly routed funds through ChangeNOW, FixedFloat, and BingX before converting to Monero, according to PeckShield.
Around $7.9 million worth of USDT was taken from wallets associated with the Coinsbuy platform. The theft occurred across the TRON and Ethereum blockchains, highlighting ongoing security risks within centralized crypto services.
Blockchain security firm PeckShield flagged the incident, noting the attacker moved portions of the stolen stablecoins through swap services ChangeNOW and FixedFloat, as well as the exchange BingX. The funds were then progressively converted into the privacy coin Monero (XMR), a common tactic to obfuscate the trail.
Coinsbuy has not yet released an official statement on the breach. The laundering path underscores how quickly stolen assets can be moved through multiple bridges and mixers in the current ecosystem.
Source: ForkLog