As a crypto investor who has used CoinStats for managing my portfolio, I was alarmed when I started receiving suspicious notifications on Saturday about being eligible for rewards. I immediately suspected a scam and reported it to the CoinStats team as soon as possible. I was relieved when they acknowledged the issue and assured us that they were investigating it.
Late on Saturday, users of the CoinStats app, both those on iOS and Android platforms, began reporting suspicious notifications. These messages falsely claimed that they had become eligible for rewards. However, rather than leading users to a legitimate platform, these notifications directed them to a questionable website where they were asked to download an additional application in order to claim their supposed rewards.
As an analyst, I want to address recent reports from our user community regarding a suspicious notification some iOS and Android users received following our latest announcement on X. Rest assured, we are actively investigating this matter to determine its authenticity and origin. In the meantime, please accept our sincere apologies for any inconvenience caused. We will keep you informed of any developments or solutions as soon as possible. Your patience and understanding in this matter is greatly appreciated.
Approximately two hours after the initial report, X acknowledged experiencing a security issue specifically with wallets generated directly on their platform, CoinStats. However, this incident does not affect externally connected wallets. The post strongly advised users to transfer their funds as soon as possible if they had previously exported their private keys.
As an analyst, I’d put it this way: I’ve analyzed the recent security incident, and I want to clarify that only users who utilized natively created wallets on CoinStats were impacted. Those who linked external wallet providers to the platform remained unaffected. CoinStats is a widely-used portfolio tracker that simplifies crypto management by enabling users to connect multiple wallets into one application for seamless handling of their holdings and investments.
A few hours after disclosing the security breach, CoinStats updated its users with reassuring news. The incident was contained, and as a precautionary measure, the application was taken offline to investigate further. Fortunately, due to our swift response from the security team, only 1.3% of all CoinStats wallets were compromised, equating to approximately 1,590 wallets.
In the post, a Google Doc was attached as a reference, showing wallets that had been compromised in the breach. This allowed affected users to transfer their funds to safer alternatives. CoinStats temporarily took down its platform and set user wallets to read-only mode.
The platform provided information that it was still looking into the full extent of the damages caused by the breach, but users should not expect significant harm based on its initial findings. However, one user reported that their external wallet funds had been stolen as a result of the incident. Further announcements from CoinStats will provide more details about the attack’s impact.
Image by Markus Winkler from Pixabay
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2024-06-23 23:44