Incident All ledgers
Coinbin: $26.0m
Coinbin lost $26.0m on 20 February 2019. Ranked 113th of 1,272 crypto failures, with method, returned funds and comparable incidents.
- Date
- 20 February 2019
- Lost
- $26.0m
- Returned or repaid
- None recorded
- Target
- CEX
- Category
- Rugpull
- Method
- Admin Drain
- Chains
- Ethereum
Coinbin's former CEO, who came from the acquired exchange Youbit, is said to have taken over 100 ETH from an Ethereum wallet while claiming its key was lost. The embezzlement, put at $26,000,000, drove the exchange into bankruptcy.
Against the ledger
- It ranks 113th of the 1,272 incidents with a known loss, and 5th in 2019.
- It accounts for 100.0% of the $26.0m in known losses in February 2019.
- 40 incidents in the ledger are classified as Rugpull, for $284.7m in total. This one is 9.1% of that.
- The ledger records no returned funds.
Closest in size by the same method
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 04 Mar 2021 | Meerkat Finance | $31.0m | DeFi Protocol | Admin Drain | — |
| 23 Jun 2021 | StableMagnet | $27.0m | DeFi Protocol | Backdoor Contract | — |
| 02 Aug 2023 | Bald | $23.0m | DeFi Protocol | Liquidity Rug | — |
| 25 Nov 2021 | Snowdog | $18.1m | DeFi Protocol | Liquidity Rug | — |
| 26 Aug 2023 | PEPE | $15.1m | Token | Admin Drain | — |
All failures in 2019 · The failures ledger
Amounts are DefiLlama’s estimates and can change as incidents are revalued. Its returned figure can include money a company repaid itself, not only funds recovered from attackers. Source: DefiLlama.
Cite this Bitminer.io, “Coinbin, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/coinbin-2019-02-20/. How this is built