CoinStats, a popular cryptocurrency portfolio manager, has reported a serious security incident affecting more than 1,000 crypto wallets. The company has responded quickly by temporarily suspending all user activity and is warning affected users to take immediate action to safeguard their funds.
Scope of CoinStats crypto hack
According to CoinStats, only 1.3 percent of all CoinStats wallets were affected by this incident. The company claims that none of the linked wallets and crypto exchanges have been affected. To provide transparency, CoinStats has published a Google Doc with a list of all currently affected crypto wallets.
The company emphasizes the importance of quick action for affected users: “If your wallet address is on this affected list, immediately move all your crypto using your exported private key.”
Safety precautions and warnings
CoinStats acted quickly to suspend all user activity to prevent further damage. It has also taken its website completely offline. This gives the company time to thoroughly investigate the incident and strengthen security.
A private key is a unique code that provides access to the cryptocurrencies in a wallet. It is crucial to keep it safe and never share it with others.
The crypto community is warning of potential scammers who could take advantage of the situation. PPman, a well-known crypto commentator, warns: “Scammers are smart. If your address is on this list or you’ve used CoinStats and posted about it, scammers may be trying to reach you to “help” you. Trust no one.”
The CoinStats incident is not an isolated incident in the crypto world. Recently, it was reported that a trader on Binance suffered a loss of almost 1 million dollars due to an alleged hack. The trader, known as Nakamao, claimed his account was compromised without his login details stolen. Binance denies responsibility and says the incident was the result of a hacked browser plugin on the user’s computer.
Many investors therefore follow the rule of thumb “not your keys, not your coins.” This means that an investor does not store his coins on an exchange account, but in his own crypto wallet.