Alphapo Hack: $23 Million Lost in Cyber Attack on Payment Processor

Alphapo Hack: $23 Million Lost in Cyber Attack on Payment Processor



Reportedly, Alphapo, a payment processor, suffered a significant cyber attack resulting in the loss of more than $23 million worth of various coins and tokens. The attack was brought to light by crypto "detective" ZachXBT on July 23. The hackers took advantage of vulnerabilities in Alphapo's security measures, gaining access to the platform's hot wallets for Ethereum, Tron, and Bitcoin, which they then emptied, causing substantial losses.



To cover their tracks, the hackers used the stolen tokens to purchase additional Ethereum and then transferred the newly acquired Ethereum to the Avalanche network, making it difficult to trace the origin of the stolen funds. Meanwhile, the stolen Bitcoins were quickly moved to a different address, complicating efforts to recover the digital assets.



The repercussions of the hack extended beyond


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#Adoption, #Alphapo, #Altcoin, #Bitcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #CyberAttack, #Ethereum, #Hack, #News, #Regulations

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