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Coinspect disclosed a wallet vulnerability dating back to 2018, which led to $3.14 million stolen last month, calling on Chinese users to be vigilant.

2026-07-05 01:08:30

Abstract generation in progress

Golden Finance reported that on July 5, the security organization Coinspect Security published a series of statements saying that by analyzing cryptocurrency wallet seeds generated using insecure code since 2018, it found that thousands of seeds had been actually used—only last month, suspected stolen funds of $3.14 million were discovered in the related wallets. Coinspect said that some of the funds showed patterns of centralized transfers into a single address and money laundering; after a affected address was flagged in the reminder for several hours, it then transferred out $2 million, and it is currently unclear whether this constitutes theft. In addition, Coinspect issued a special warning to the Chinese community, believing that many users with assets that are still at risk may be located in China.

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