CoinStats, an application promising to help people track their cryptocurrency holdings, has suffered a breach impacting more than 1,500 user wallets.The application asks its users to connect their wallets to allow it to track their holdings, but promises on the website that it offers “the ultimate security for your digital assets”. “Since we ask for read-only access only, your holdings are perfectly safe under any conditions,” the website promises, later touting its “military-grade encryption”.CoinStats shut down the platform while investigating the incident. Losses have been estimated at around $2.2 million.

Total loss estimated at $2,200,000.