Coinsbuy confirms breach after US$79M loss

• Coinsbuy confirmed a security breach after wallets were reportedly drained of about US$79 million.
• The company said it is investigating the incident and reviewing affected systems.
• The breach adds to growing concerns about crypto platform security and wallet protection.

Coinsbuy confirmed a security breach after wallets were reportedly drained of about US$79 million in digital assets.

The incident was reported after users noticed large withdrawals from wallets linked to the platform.

Coinsbuy said it is investigating the breach and reviewing its security systems and affected wallets.

The company has not publicly confirmed the exact amount lost or the number of users affected.

The investigation is ongoing and the company said further updates will depend on the results of its review.

Crypto platforms continue to face security risks, including wallet breaches, private key compromises and cyberattacks.

The reported US$79 million loss highlights the importance of security controls and incident response procedures for digital asset platforms.