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;
Ethereum:
- 0x040a96659fd7118259ebcd547771f6ecb9580d17
- 0x6d2e8a20b8afa88d92406d315b67822c01e53c38
- 0xde374094C837D192B61972172740BDAfc4eE16E0
Tron:
- TKSitnfTLVMRbJsF1i2UH5hNUeHLDrXDiY
- TDoNAZHa7WxarUAFbQUhiijTGtd7EpbzRh
- TJF7mdFxDuHB4tb9hoyR4SCpKxk7gr23ym
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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Scorechain provides a blockchain analytics and transaction monitoring platform for crypto assets. As a leader in crypto compliance, the Luxembourgish company has helped over 200 customers in 45 countries since 2015, ranging from cryptocurrency businesses to financial institutions with crypto trading, custody branch, digital assets, customers onboarding, audit and law firms, and some LEAs.
Scorechain’s platform provides identifying data and risk assessment for comprehensive blockchains. The platform connects to different sources and block lists to provide risk scoring on crypto assets, transactions, addresses, and entities. The risk assessment methodology applied by Scorechain has been verified and is fully customizable to fit all jurisdictions. Customers can monitor infinite possibilities of risk scenarios with a wide range of parameters provided so businesses under the scope of the crypto regulation can report suspicious activity to authorities with enhanced due diligence.
