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CoinStats said a June 2024 attack exposed private keys for 1,590 wallets created within its CoinStats Wallet product and led to an estimated $2.2 million in cryptocurrency theft. The company said wallets and exchange accounts users connected for read-only portfolio tracking were not affected. That distinction matters: the incident was not reported as a breach of every external account linked to CoinStats.
What happened in the CoinStats attack?
CoinStats said it detected abnormal transfers involving CoinStats Wallet at approximately 18:00 UTC on June 22, 2024. It took the platform offline while responding and later that evening shared a list of wallets it had identified as affected.
In an incident report dated July 12, 2024, CEO Narek Gevorgyan said unauthorized access across parts of CoinStats’ infrastructure and third-party services gave the attacker access to private keys for exactly 1,590 CoinStats Wallets. CoinStats estimated that approximately $2.2 million in cryptocurrency was stolen. These are the company’s reported figures; the cited accounts do not establish an independently audited total. CoinStats’ incident report and contemporaneous SecurityWeek coverage describe the incident.
Were connected wallets or exchange accounts affected?
CoinStats said no: external wallets and exchange accounts connected to the service for portfolio tracking were not affected because the company had read-only access to them. The reported theft concerned wallets created within CoinStats Wallet, where the company said private keys were accessed. A read-only connection used to view balances or transactions is therefore a different account relationship from holding funds in a CoinStats-created wallet.
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What did CoinStats say the attacker accessed?
The company described unauthorized access to parts of its own infrastructure and third-party service providers. It specifically named HashiCorp Vault, which it said secured CoinStats Wallet two-factor authentication (2FA) PINs, and APIs for a wallet-as-a-service provider. CoinStats said intrusions across multiple services, including services outside the company, enabled the attacker to access private keys. The public description does not establish a complete, independently verified technical attack chain.
Who did CoinStats blame?
CoinStats attributed the attack to the Lazarus Group or a related organization, describing it as a nation-state-level actor. In the July 12 report, Gevorgyan wrote: “Through collaboration with law enforcement and security researchers, we gathered enough evidence to confidently attribute the attack to the Lazarus Group or a related organization with a nation-state level of sophistication and resources.” That is CoinStats’ attribution; the cited reporting does not independently confirm it.
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How did CoinStats respond?
CoinStats said it worked with security researchers, including people affiliated with Security Alliance, and reported the incident to local law enforcement and the FBI. It said it rebuilt its production environment without reusing old infrastructure, moved to new cloud accounts, and commissioned external security audits. The company reported that all platform functionality had been restored by July 3, 2024. That is a historical statement about restoration at that time, not confirmation of the service’s current status.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What should affected users do?
CoinStats advised users to change their passwords, enable 2FA on their CoinStats accounts, and be alert to suspicious emails, links, attachments, and purported airdrop messages. These steps address account security and phishing risks; they do not establish that a password change can recover cryptocurrency taken from a wallet.
The available reports do not establish whether stolen funds were later recovered or victims reimbursed. They also do not provide a final independent forensic account of the cause or attribution.
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