CoinStats Suspends User Activity Following Security Breach Affecting 1,590 Wallets
Cryptocurrency portfolio manager CoinStats announced a security breach that impacted 1,590 crypto wallets. "The attack has been mitigated, and we have temporarily shut down the application to isolate the security incident." According to the CoinStats team, only a small fraction, 1.3%, of all CoinStats Wallets were affected. The company reassured users that "none of the connected wallets and CEXes were impacted."
Despite addressing the immediate threat, CoinStats has yet to disclose the full extent of the damage from the breach. They have promised to provide updates as more information becomes available. CoinStats emphasizes on its website that it only requests read-only access to connected crypto wallets, which should theoretically keep users' holdings "perfectly safe under any conditions."
CoinStats allows users to connect all their crypto wallets and track their entire portfolio in one place. The platform has shut down its website while it works to resolve the security issue. CoinStats also published a Google document listing the affected crypto wallets, noting that the list might change as the investigation continues, though significant updates are not expected. Users with wallets on the list are advised to move their funds immediately using their exported private keys.
This incident adds to a growing list of security breaches in the crypto industry. Recently, Rain exchange lost $14.1 million worth of crypto in a confirmed exploit two weeks ago. According to Crystal Intelligence, the crypto industry has experienced 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 June 19, 2011.