The Alphapo Hack: $60 Million Lost and Potential Lazarus Connection
The recent hack involving Alphapo’s hot wallets has resulted in a loss of $60 million, according to on-chain analyst ZachXBT. Here are the key points:
– On-chain analyst ZachXBT identified an additional $37 million in stolen assets on the Tron and Bitcoin networks, bringing the total estimate to $60 million.
– Alphapo, a crypto payments processor, handled transactions for online gambling platforms like HypeDrop, Bovada, and Ignition.
– Hot wallets, which are constantly connected to the internet, face higher risks of cyberattacks compared to cold wallets.
– The hackers swapped the stolen funds on Ethereum for ETH and then bridged them to other blockchains like Avalanche, Tron, and Bitcoin.
– Affected platforms, such as HypeDrop, disabled withdrawals to prevent further damage.
There is a potential connection to the Lazarus hacking group, known for their involvement in high-profile hacks. ZachXBT noted that the on-chain patterns associated with this breach align closely with Lazarus’ previous operations. Lazarus was responsible for the Ronin bridge breach, which resulted in a loss of over $600 million last year.
In conclusion, the Alphapo hack has resulted in a significant loss of $60 million, and the on-chain patterns suggest a potential link to the Lazarus hacking group. This incident highlights the importance of strong security measures and vigilance in the crypto industry.
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