Crypto Gateway Coins Payer Hacked Over $7.5M – Cyberspace
Crypto payment gateway CoinsPaid has suffered its second security breach in the past six months. Web3 security firm Syvers has reported that it has found nearly $7.5 million in unauthorized transactions.
Syverse's artificial intelligence system detected several irregular transactions on January 6, allowing it to extract $6.1 million worth of digital assets in Tether (USDT), Ether (ETH), USD Coin (USDC) and CoinsPaid's home token CPD.
According to the Cyber team at X (formerly Twitter), the attacker exchanged approximately $368,000 worth of CPD tokens for ETH and moved the funds to overseas owned accounts (EOAs) and crypto exchanges MEXC, WhiteBit and ChangeNOW. CoinGecko data shows CPD trading at $0.0006 at the time of writing, down 39.5% in 24 hours.
After further analysis, Syver identified more than $1 million in unauthorized transactions related to BNB, bringing the total amount stolen to $7.5 million.
CoinsPaid is an Estonian payment processor for digital assets and claims to have processed more than €19 billion in crypto transactions. The company has not yet released a statement about the attack.
The platform suffered another security breach in July 2023, resulting in over $37 billion being stolen. According to Coinspaid, hackers used a fake job interview to trick one of its employees. The employee responded to the request and allegedly downloaded malicious code that would allow bad actors to steal data and gain access to Conspid's infrastructure.
In a postmortem report, Coinspide blamed the North Korean government-backed Lazar group for the incident. “After many failures – targeting employees instead of the company.
The Lazarus Group It is believed to be behind several crypto hacks in 2023. Blockchain intelligence firm TRM Labs reported that the group stole at least $600 million last year.
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