Australian Exchange CoinSpot Loses $2M In Hot Wallet Hack

Hackers have stolen over $2.4 million of ETH from CoinSpot’s hot wallets.

Last updated: September 3, 2025 12:37 PM

Published November 9, 2023 6:08 AM

Last updated: September 3, 2025 12:37 PM

Published November 9, 2023 6:08 AM

The Australian cryptocurrency exchange CoinSpot was reportedly hacked on November 9, with the attacker stealing more than $2 million of Ether (ETH) from one of its hot wallets.

According to blockchain security researcher and reporter ZachXBT, CoinSpot was hacked for 1,262 ETH, totaling approximately $2.4 million.

The hacker address also seems to have received another transaction of 20.99 ETH from another CoinSpot hot wallet.

CoinSpot Hacker - Etherscan — *CoinSpot Hacker – Etherscan*

Etherscan data shows that the hacker bridged stolen ETH to Bitcoin via ThorSwap Router and WBTC bridge. However, the exchange has not shared any release regarding the hack.

Coinspot was started in 2013 to serve a user base of over 2.5 million Australian users with a cryptocurrency trading facility.

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