Coinsbuy covers client losses after Aug. 9 breach and offers $100,000 reward

Coinsbuy says it has fully covered affected client funds from its own reserves after an Aug. 9 security incident that led to unauthorized withdrawals from several platform wallets. For PSPs and high-risk merchants, the useful part is not the headline number alone, but the fact pattern: hot-wallet style exposure, cross-chain movement, temporary service suspension, and an operator choosing to absorb losses rather than push them to clients.

1. Wallets linked to Coinsbuy, a Panama-incorporated crypto payments platform, were reportedly drained of more than $7.9 million across Ethereum and TRON on Sunday. The platform provides businesses with infrastructure to accept, store, send and exchange digital assets, so this is not just a retail-wallet story; it is payment rails and treasury infrastructure getting hit.
2. According to blockchain investigator SpecterAnalyst, the attacker began moving stolen funds into Monero through exchanges, while ChangeNOW helped freeze a six-figure portion of the assets. SpecterAnalyst also identified three addresses linked to the stolen funds: two Ethereum addresses and one TRON address.
3. Coinsbuy temporarily paused deposits and withdrawals after the incident, then restored both services, according to SpecterAnalyst. The company later confirmed the Aug. 9 security incident in a statement shared with Cointelegraph, saying unauthorized withdrawals affected several platform wallets.
4. Coinsbuy said it has fully covered all affected client funds from its own reserves, adding that users “have not experienced any financial losses.” It also said the platform is back to operating normally, while the technical investigation is still ongoing and will not be disclosed until the findings are verified.
5. The company did not confirm or dispute the reported $7.9 million figure. It did, however, offer a $100,000 reward for information leading to the identification of those responsible, plus an additional bonus for help recovering the stolen funds.

For high-risk PSPs, the operational detail worth noting is simple: once funds start moving from Ethereum or TRON into Monero through exchanges, recovery becomes a race between traceability, exchange cooperation, and speed. Coinsbuy says it got part of the assets frozen and has already absorbed client losses; that is the part merchants and payment partners will care about when they ask who eats the loss and how fast the platform can keep processing.