Coinsbuy Confirms $7.9M Crypto Theft, Covers Losses With Reserves

Coinsbuy acknowledges unauthorized withdrawals totaling $7.9 million from platform wallets. The exchange has fully compensated users using internal reserves and issued a $100,000 bounty for information.

Woofun AI reports that Coinsbuy has confirmed a security breach involving unauthorized withdrawals from its platform wallets, involving unauthorized withdrawals. The exchange stated that it has utilized its own reserves to cover all customer losses associated with the incident and has offered a reward of $100,000 for information leading to the recovery of funds or identification of perpetrators.