CoinsPaid Loses $37.3 Million in Hacking Incident

CoinsPaid Loses $37.3 Million in Hacking Incident



According to an official update released on July 26, there was a cyber attack on CoinsPaid, a crypto payment provider based in Estonia, resulting in a loss of $37.3 million on July 22. The company has attributed the hack to the Lazarus Group, a notorious hacker organization with a history of targeting prominent companies. This group is believed to have ties to North Korea and has been involved in hacking and stealing from various crypto firms and bridges, including CoinCheck and Ronin.



In response to the breach, CoinsPaid acted swiftly to reinforce its security systems to prevent further damage, ensuring that customer funds remain secure. Nonetheless, the incident has affected their financial situation due to the loss of funds.



CoinsPaid is currently conducting an investigation into the hack using advanced crypto analytics tools.


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#Adoption, #CoinsPaid, #Cryptocurrency, #Cryptomarket, #News, #Regulations

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