Cryptocurrency portfolio manager CoinStats has assured users that the security breach has been “mitigated,” and it will provide updates in due course.
Cryptocurrency portfolio manager CoinStats has temporarily suspended user activity following a security breach that affected 1,590 crypto wallets.
“The attack has been mitigated, and we have temporarily shut down the application to isolate the security incident,” CoinStats wrote in a June 22 X post.
“Thanks to the immediate incident response from the CoinStats team, only 1.3% of all CoinStats Wallets were affected, totaling 1,590 wallets,” it added while claiming that “none of the connected wallets and CEXes were impacted.”
Extent of impact from security incident still unknown
CoinStats did not disclose the extent to which the wallets were affected by the security breach but promised to provide “updates as soon as they become available.”
The portfolio manager states on its website that since it “asks for read-only access” to connected crypto wallets, users’ holdings remain “perfectly safe under any conditions.”
The platform offers users the ability to connect all their crypto wallets and use it as an overall crypto portfolio tracker, allowing them to view all their wallets in one place.
Coinstats published a Google document listing all currently affected crypto wallets. It was mentioned that the list “might change” as the investigation progresses, but significant changes are not expected.
“If your wallet address is in this affected list, please move your funds immediately using your exported private key,” it stated.
However, members of the crypto community warned victims on the list to beware of scammers who may reach out pretending to offer assistance with the situation.
“Scammers are smart. If your addy is in this list or if you’ve used coinstats and posted about it scammers may be trying to reach out to you to “help” you. Do not trust anyone,” pseudonymous crypto commentator PPman wrote.
Rise in crypto firms facing security breaches
It comes after several crypto platforms experienced security incidents in recent times.
Crypto data aggregator CoinGecko recently confirmed a data breach suffered by its third-party email management platform GetResponse.
On June 5, CoinGecko confirmed that the data breach allowed attackers to export the contact information of over 1.9 million CoinGecko users.
On June 12, Crystal Intelligence revealed that the crypto industry has suffered 785 reported hacks and exploits during the past 13 years.
Nearly $19 billion worth of digital assets were stolen in the 13 years since June 19, 2011, when the first known crypto hack was reported.
Cointelegraph reached out to Coinstats for comment but did not receive a response in time for publication.
Risk Disclaimer
Although Sponsored Trading can be profitable, it is associated with a significant risk of losing your investment. The risks will increase when trading on margin companies. Traders must exercise due diligence and be careful when making their trading decisions. It is the sole responsibility of the Trader to learn and acquire the knowledge and experience required to use the Trading Platform and anything that will be required to trade properly.
