CoinsPaid Suspecting Lazarus Group Behind The Hack Of $37.3 Million

9 months ago

Hackers hacked the internal system of the crypto payments platform CoinsPaid and stole $37.3 million on July 22. CoinsPaid pointed fingers at the notorious Lazarus Group for this incident. Lazarus Group is behind hacking many high-profile companies and the mastermind of cyber attacks.

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CoinsPaid suspects that this powerful hacker group is responsible for hacking $37.3 million. It makes significant damage to the platform and they stopped the operation for four days. After four days, they resume their operation in a limited environment.

They have already reported this to Estonian law enforcement to investigate this exploit. Not only that, they are also working with blockchain security firms including Chainalysis, Match Systems, and Crystal. CoinsPaid gets support from crypto communities to deal with this challenging situation.

CoinsPaid CEO Max Krupyshev pays more attention to the security of the platform and users' assets. They are doing everything that can to minimize the loss and hold the Lazarus Group accountable for their crimes. Crypto payments processor Alphapo was hacked recently and hackers managed to drain more than $60 million.

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Atomic Wallet became a victim of hacks and again hackers got away with stealing crypto assets. Is there any link related to the CoinsPaid hack with the hack of Alphapo and Atomic Wallet.? Blockchain security firm SlowMist thinks there is a link to this hack.

CoinsPaid did not reveal how hackers hacked its platform and stole its funds. It remains a mystery how this notorious hacker group manages to get access and exploit the platforms. It is assumed that Lazarus Group is good at doing social engineering targeting people who work in crypto projects and cybersecurity sectors.

The hacker group somehow pursues professionals on social media and makes them fall into their traps to get sensitive information. Then they plan to launch an attack on each platform. People who work in crypto projects and cybersecurity sectors have to be more careful while using social media.

It takes time to invest and build your crypto assets. You can lose everything in crypto if hackers are able to make you fall into their traps. There is no alternative to staying vigilant. I wish no one would go through a negative experience of hacks in crypto.

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