In July 2024, Coinstats experienced a security incident affecting 1590 Coinstats wallets, taking around $2.2 million according to Coinstats. Coinstats’ CEO posted that there was “strong evidence suggesting it was done through one of our employees who was socially engineered into downloading malicious software onto his work computer,” according to Cointelegraph. Social engineering has become a common tactic used by criminals to engage in theft of digital currency. As criminals and scammers have become more sophisticated, there have become increasingly complex schemes used to steal digital assets. Victims of cryptocurrency hacks or thefts may have recourse, depending on the facts and circumstances. If you have questions about cryptocurrency losses, contact Michael Haeberle at mhaeberle@pattersonlawfirm.com
