Crypto Hack, Cryptocurrency, Hot wallet, Virtual asset,
Alphapo’s Hack now estimated at over $60M
A few days ago, Alphapo, a prominent crypto payment platform, suffered a significant breach in its hot wallets involving Ethereum, TRON, and Bitcoin. As a result of the attack, the platform recently lost over $60 million, with the potential for an even greater loss due to uncertainties surrounding the exact amount of stolen funds. Reports suggest that the total sum drained off the platform could be over $100 million. The security breach has raised concerns among the crypto community and prompted investigations into the incident.
According to investigations by ZachXBT, the stolen funds were initially taken on the Ethereum network. Subsequently, the funds were converted into ETH and then moved to the Avalanche and Bitcoin blockchains. The breach is suspected to have been caused by a leak of private keys.
The Drainer addresses involved in the hack include addresses on Ethereum and Tron chains following;
The stolen funds including 6 million USDT, 108 thousand USDC, 430 thousand TFL, 2.5 thousand ETH, 100 million FTN, and around 1.7 thousand DAI were transferred to addresses 0x040a96659fd7118259ebcd547771f6ecb9580d17.
The stolen funds on Ethereum were swapped for ETH and then bridged to Avalanche and Bitcoin.
The last update, wallet address 0x040a96659fd7118259EBCD547771f6eCb9580d17 currently holds approximately 100 million FTN and 430K TFL.
Following this circumstance, HypeDrop, one of Alphapo’s clients, announced that it has temporarily stopped processing crypto transactions. The platform experienced issues with deposits and withdrawals due to the hack but assured its users that their funds are safe. HypeDrop stated that once the cryptocurrency provider’s operations resume, deposit processing will be credited accordingly.
The investigation into the Alphapo attack is still ongoing. Updates will be provided as more information becomes available. Undeniably, The attack has raised concerns about the security of crypto payment platforms and highlights the importance of robust security measures to protect digital assets.
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