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Nexus Mutual
@NexusMutual
The first crypto insurance alternative: covering crypto since 2019 @NexusMutualDAO
Joined July 2017
161 Following    41.4K Followers
The Onchain Security Roundup tracked 1 material incident last week with over $7.9M in losses Coinsbuy: $7.9M-$8.07M. The crypto payment processor's hot TRON and Ethereum wallets were drained on August 9th. At this time, it’s unclear how the attackers got in, but some have theorized the theft was due to compromised private keys or a vulnerability in how Coinsbuy managed its multi-chain wallet infrastructure. Once the attack was detected, Coinsbuy paused deposits and withdrawals. They have since restored services and refilled the affected wallets. With the help of the ChangeNOW exchange, a six-figure portion of stolen funds was also frozen. For teams holding or processing onchain capital, this is a reminder that the loss path is not always a contract bug. Hot-wallet controls, signer access, operational response, and exchange or off-ramp dependencies can matter as much as protocol code. Nexus Mutual works with builders to assess these risks and more. If you’re looking for expert help in protecting your protocol and its users, get in touch with us. You’re Covered with Nexus Mutual
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