$6.7 million drained – How a user lost funds from both Coinbase and Kraken

Another day and yet another attack. Specter, an on-chain investigator, exposed that a user who had accounts on Coinbase and Kraken was exploited. According to the investigation, the attack resulted in the loss of $6.7 million in stolen funds.

In all, 10.5 BTC and 1,554 ETH valued at $3.3 million were taken out of the victim’s Kraken account. Additionally, 34.1 $cbBTC, which is worth $2.6 million, was also taken out of Coinbase.

Details of the attack and more

According to an early investigation, the account holder might have been the target of a physical attack that caused the theft. Later, though, Specter revised the assessment to indicate that there was probably no physical attack involved. 

At that time, the hacker was quick enough to deposit $5.3 million into Tornado Cash in order to launder the stolen money.

Although no further information is available regarding how the attackers might have accessed the victim’s exchange accounts, the attack has further undermined the crypto security guard, which is losing ground. 

This highlights how there has been a massive rise in scams in 2026. DeFiLlama data confirmed this sentiment, as the total value compromised had peaked at $840.1 million.

In fact, April was the month with almost 30 incidents and hacks valued at a total of $634.85 million. 

2026 becomes the year of scams

AMBCrypto also recently reported another exploit involving the Verus-Ethereum bridge. Attackers reportedly stole around $11.58 million through a verification flaw.

Meanwhile, GitHub,disclosed cases of unauthorized access involving its systems.

On top of that, 14 Bankr wallets were compromised in another attack. The incident caused losses worth nearly $150,000.

In conclusion, examining the attacks closely reveals that they are never the same; wrongdoers always find a new way to carry out their operations. Thus, it is unclear if hacks and attacks will continue to rise or fall by the end of 2026, with nearly half of the year still to go. 

Final Summary

• The attack drained 10.5 BTC and 1,554 ETH valued at $3.3 million from the victim’s Kraken account.
• DeFiLlama suggested that the total value compromised in 2026 had totaled $840.1 million, with April seeing the most hacks.