Crypto News – CoinStats App Halts Operations Due to Security Breach Impacting 1,590 Wallets
Crypto News- In response to a recent security incident, CoinStats, a popular cryptocurrency portfolio app, has temporarily suspended its services. Here’s what you need to know:
Scope of Breach
The breach, affecting 1,590 wallets, has prompted CoinStats to take swift action. Fortunately, the breach only compromised a small fraction, approximately 1.3%, of all CoinStats wallets. Notably, connected wallets and centralized exchanges (CEXes) remain unaffected by the breach.
Scam Notification
Some iOS and Android users received a scam notification, falsely promising a 14.2 ETH reward. This notification directed users to log into the CoinStats AirScout wallet, leading them to a fraudulent website. CoinStats is actively investigating this issue and has apologized for any inconvenience caused.
Immediate Steps for Users
Affected users are advised to move their funds promptly, utilizing their exported private keys if available. CoinStats has provided a link to the list of affected wallets for users’ reference. While updates on the investigation will be forthcoming, significant changes to the list of affected wallets are not expected.
Extent of Compromise
Efforts are underway to determine the full extent of compromised funds. CoinStats assures users that updates will be provided as soon as additional information becomes available. The company appreciates users’ patience during this process.
Investigation and Restoration
CoinStats is actively investigating the cause of the breach and working to restore the app’s functionality promptly. The company acknowledges concerns regarding the storage of private keys and the randomness of wallet generation. These issues will be addressed as part of the ongoing investigation.
Stay Vigilant
As always, users are urged to remain vigilant and cautious of unexpected competitions or rewards in the crypto space. Hardware wallets are recommended for securing critical funds.
Conclusion
While CoinStats works to resolve the situation, users are encouraged to prioritize the security of their cryptocurrency holdings. Updates will be provided as the investigation progresses, ensuring transparency and accountability throughout the process.
Frequently Asked Questions (FAQs) Regarding CoinStats Security Incident
What happened to CoinStats?
CoinStats experienced a security incident that prompted the temporary suspension of its application. The breach affected 1,590 wallets, comprising approximately 1.3% of all CoinStats wallets.
Were all CoinStats users affected by the breach?
No, only a small fraction of CoinStats users, specifically those with affected wallets, were impacted by the security breach. Connected wallets and centralized exchanges (CEXes) remain unaffected.
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