Alphapo Hacked: Millions in Bitcoin, Tron, and Ethereum Stolen
Discover how hackers infiltrated Alphapo, a payment processor, resulting in a significant loss of over $23 million in Bitcoin, Tron, and Ethereum. Explore the aftermath of the attack, the impact on cryptocurrency services, and the ongoing investigation. Plus, find out how these types of hacks are unfortunately becoming more common in the decentralized finance (DeFi) world.
Unmasking the Hackers
Crypto "detective" ZachXBT recently uncovered the alarming news of Alphapo's attack. The hackers exploited vulnerabilities in the payment processor's security measures, gaining access to the hot wallets for Ethereum, Tron, and Bitcoin. With this access, the hackers drained the wallets, resulting in substantial losses for Alphapo.
To cover their tracks and make the stolen funds difficult to trace, the hackers converted some of the tokens into Ethereum and transferred them to the Avalanche network. They also promptly moved the stolen Bitcoins to a different address, complicating efforts to recover the digital assets.
Impacted Services and User Woes
The consequences of the Alphapo hack rippled through the cryptocurrency ecosystem, affecting services such as HypeDrop, Bovada, and Ignition. Users encountered difficulties in withdrawing their cryptocurrencies, exacerbating the already troubling situation.
HypeDrop issued an official statement acknowledging the hack and assuring its users that they are actively working to address the issues arising from the breach. However, BTC, ETH, and TRX withdrawals, as well as ETH and TRX deposits, continue to experience difficulties.
The Ongoing Investigation
ZachXBT has taken on the role of assisting in resolving the Alphapo incident by identifying the wallet addresses connected to the $23 million hack. However, the full extent of the Bitcoin theft remains uncertain as the investigation progresses.
This unfortunate hack serves as a reminder that decentralized finance is not immune to attacks. PeckShield, a blockchain intelligence firm, has documented over 395 exploits, leading to a staggering loss of more than $479.4 million in recent times.
