Cryptocurrency portfolio manager CoinStats has assured users that the security breach has been “mitigated,” and it will provide updates in due course.

CoinStats Addresses Security Breach, Temporarily Suspends Activity

CoinStats, a cryptocurrency portfolio manager, has temporarily suspended user activity following a security breach affecting 1,590 crypto wallets. The breach prompted CoinStats to shut down its application temporarily in response to isolate the incident.

According to CoinStats, immediate incident response efforts from their team mitigated the attack, limiting the impact to approximately 1.3% of all CoinStats Wallets. The affected wallets totalled 1,590, although CoinStats clarified that none of the connected wallets and centralized exchanges (CEXes) were impacted.

Mitigating the Impact and Ensuring Safety

While the extent of the impact from the security breach remains undisclosed, CoinStats assured users that their holdings are safe under any conditions since the platform only requests read-only access to connected crypto wallets.

CoinStats has provided a Google document listing the currently affected crypto wallets, advising users to move their funds immediately using their exported private key if their wallet address is on the list. However, cautionary warnings have been issued to victims to beware of potential scammers who may attempt to exploit the situation.

Rise in Security Incidents Across the Crypto Industry

The security breach at CoinStats adds to a series of recent incidents affecting various crypto platforms. CoinGecko, a crypto data aggregator, confirmed a data breach through its third-party email management platform, impacting over 1.9 million users.

Furthermore, Crystal Intelligence revealed alarming statistics, reporting 785 reported hacks and exploits within the crypto industry over the past 13 years. These incidents resulted in the theft of nearly $19 billion worth of digital assets, underscoring the importance of robust security measures within the crypto ecosystem.

As CoinStats and other affected platforms work to address these security breaches, heightened awareness and vigilance remain critical for users to safeguard their assets against potential threats.