Crypto portfolio tracker outlet Coinstat has resumed operations after transiently shutting down operations on June 22, 2024, following a security breach that affected over 1,500 wallets on the platform.
Breaking the news to its users on X via Coinstats’ verified handle, the portfolio tracker outlet stated, “We're back online! Not all functionalities are active right now, and we're slowly activating them to ensure a smooth and stable experience for everyone.”
Meanwhile, in a follow-up tweet, Coinstats noted that it is gradually close to resuming comprehensive operations, stating that three functionalities, which include adding transactions, portfolio charts, and portfolio sync, are now running on the platform.
Updates:
— CoinStats (@CoinStats) June 24, 2024
- Adding transactions ✅
- Portfolio charts ✅
- Portfolio sync ✅
We're on our way to fully restoring functionality!
Genesis of Coinstats’ Security Breach
On June 22, 2024, CoinStats notified the public that the recent security crisis on its platform is under experts control, with the platform being under a temporary shutdown. “The attack has been mitigated, and we have temporarily shut down the application to isolate the security incident,” said the crypto portfolio manager platform in a post on X.
Going further, CoinStats assured its users that the unfortunate incident did not corrupt crypto wallets and Centralized Exchanges (CEXs) connected to the platform.
In addition, updates from the CoinStats response team revealed the number of affected wallets to be over 1500 (less than two percent of all CoinStats wallets), which could increase, pending further investigations by the team. However, the platform noted that it does not anticipate any significant increments.
Information For Affected Wallets Users
The response team has compiled and published a list of all the CoinStats wallets affected by the attack and urged the owners to move their funds out almost immediately using the Exported Private Key feature.
Furthermore, the CoinStats team is still actively investigating the volume of funds lost to the attackers, which remains largely unknown at the time of writing.
Update on the Security Incident
— CoinStats (@CoinStats) June 22, 2024
The attack has been mitigated, and we have temporarily shut down the application to isolate the security incident.
1. None of the connected wallets and CEXes were impacted.
2. Thanks to the immediate incident reponse from the CoinStats team,…
Before its recent announcement disclosing that it is back online, Coinstats’ app had been offline as the response team delved into investigations to ascertain the extent of the security breach.
In the crypto space, events like the one described in this insight seem to be becoming rampant, underscoring the need for tighter security measures among crypto and other payment platforms.
