CoinStats Employee Suspected of Orchestrating $2M Crypto Theft
CoinStats CEO Narek Gevorgyan revealed new details on June 26 regarding the recent CoinStats hack that saw bad actors steal $2 million worth of tokens from the crypto portfolio tracker.
Gevorgyan explained in a detailed post on X that investigations into the CoinStats hack revealed its AWS infrastructure was breached.
AWS, also known as Amazon Web Services (AWS), is a suite of cloud services and resources for hosting applications, managing data, and computing tasks.
The CEO further stated that strong evidence suggested that the attack was orchestrated through one of their employees, who was “socially engineered” into downloading malicious software into the company computer.
What a week it's been.
I've been working diligently on CoinStats for the last 6 years. We've experienced many highs and lows, but I believe we've created the best portfolio tracker on the market.
Our AWS infrastructure was hacked, with strong evidence suggesting it was done…
— narek (@narek_gevorgyan) June 26, 2024
Social engineering is a manipulation technique that hackers use to exploit human error through persuasive tricks to gain private information or access, such as login credentials.
Gevorgyan further expressed his deep sympathy for the victims who lost funds in the CoinStats hack, acknowledging the severity of their situation.
“I empathize with those who lost money; I’m sure their situation is just as difficult,” he stated. “CoinStats will definitely support the victims of the hack, and we’ve been discussing options internally. We’re waiting for a few details from law enforcement to be finalized before we can share a more detailed post-mortem of the hack.”
The CoinStats hack took place on June 22. The scammers fraudulently sent scam notifications to
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