CoinStats Blames $2.2 Million Crypto Theft on Sophisticated Hacker

CoinStats suffered a $2.2 million crypto theft in June, likely perpetrated by a nation-state-backed hacker, leading to a platform overhaul and user cautionary measures.

Cryptocurrency portfolio tracking app CoinStats has attributed a $2.2 million June hack to a highly skilled attacker likely affiliated with a nation-state, potentially the notorious Lazarus Group.

In a recent incident report, CoinStats revealed that a sophisticated cybercriminal gained access to private keys for 1,590 CoinStats Wallets, resulting in the cryptocurrency heist. The company believes the attacker compromised multiple core services, including external systems, to execute the theft.

While experts like ZachXBT and MetaMask’s Taylor Monahan are tracking the stolen funds, CoinStats has reported the incident to law enforcement. The platform has since undergone a complete infrastructure overhaul and engaged new auditors to bolster security.

Despite no evidence of user data compromise, CoinStats urges users to remain vigilant against phishing attempts targeting CoinStats-related email addresses. The company has also established a process for victims to claim potential future support.

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