Cryptocurrency wallet application CoinStats has temporarily suspended its operations due to a security vulnerability. The vulnerability has affected 1,590 wallets, which accounts for 1.3% of all users.
The company is investigating a fraudulent message received by some iOS and Android users. Currently, an investigation is underway to detect any irregularities. Users received a fake message offering a reward of 14.2 ETH, which directed them to a fake CoinStats AirScout wallet. This message was propagated through a push notification in the application. CoinStats is conducting an investigation and apologizes to its users, promising timely updates.
The company advises users with affected wallets to immediately transfer their funds using exported private keys. A contact to the list of affected wallets has been provided.
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The breach raises concerns about whether private keys are stored on CoinStats’ server and the security of the wallet generation process. Only wallets created by CoinStats have been targeted, suggesting potential vulnerabilities.
CoinStats quickly disabled access to the application and is working on restoring its functionality. This incident serves as a reminder for users to be cautious regarding unexpected crypto rewards and to use hardware wallets to secure their funds.
