CoinStats Pauses Operations after Security Breach Impacts 1,590 Crypto Wallets
Summary:
CoinStats, a cryptocurrency portfolio manager, has temporarily paused user activity following a security breach that impacted 1,590 crypto wallets. The company stated that despite the incident, no connected wallets or CEXes were affected. CoinStats' website, which allows users to connect and track all their crypto wallets collectively, is currently inactive as they work to resolve the security issue. The breach adds to the increasing number of such incidents in the crypto industry, highlighting the ever-present challenge of ensuring security within the digital currency sphere.
In the wake of a security incident, CoinStats, a cryptocurrency portfolio managing platform, has temporarily halted all user activity. The breach impacted 1,590 crypto wallets, but the situation was brought under control and the application was shut down to further isolate this security issue. According to official remarks released by CoinStats, a mere 1.3% of CoinStats wallets were affected by this incident, with no connected wallets and CEXes being impacted.
CoinStats's website outlines that it seeks only "read-only access" to its users' crypto wallets, assuring that their cryptocurrency holdings are secure under all circumstances. The platform essentially enables users to link all their digital wallets and monitor them collectively, providing an inclusive crypto portfolio tracking solution. Currently, CoinStats' website is inactive as they work to rectify the security issue.
CoinStats has disclosed a Google document displaying all presently compromised crypto wallets. Although the list might witness certain changes as the investigation advances, no substantial alterations are anticipated. CoinStats issued a warning to those whose addresses figure on this list, advising them to transfer their funds immediately using their private keys.
However, members of the crypto community have cautioned victims to be wary of fraudsters who might make attempts to "help" under the guise of offering assistance.
This event adds to an increasing number of security breaches suffered by crypto platforms recently. CoinGecko, a crypto data aggregator, confirmed a data breach involving GetResponse, its third-party email management service. This breach allowed for the unauthorized extraction of more than 1.9 million CoinGecko users' contact details.
In a report released on June 12, Crystal Intelligence noted that the crypto industry has witnessed 785 reported hacks and threats over the past 13 years leading to nearly $19 billion worth of digital assets being stolen since June 19, 2011, when the first known crypto hack was recorded.
CoinStats has yet to respond to these developments.
Published At
6/23/2024 3:05:28 AM
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