Coinsbuy fully reimbursed users after unauthorized withdrawals from its wallets, though it did not confirm a $7.9 million loss.
Coinsbuy, a Panama-based crypto payments platform, announced a $100,000 reward for information on a security breach that led to unauthorized withdrawals from its wallets on August 9. The company stated all affected client funds were covered by its reserves, ensuring no user losses.
The platform confirmed the incident but declined to disclose technical details or verify the reported $7.9 million figure. Services have resumed normal operations while an internal investigation continues. Coinsbuy also offered an additional bonus for assistance in recovering stolen funds.
The breach follows recent vulnerabilities in crypto infrastructure, including BTCPay’s Lightning network restrictions after fund thefts. Coinsbuy’s response aims to reassure users amid heightened security concerns in digital asset platforms.