Security experts reported on July 22 that crypto payment platform AlphaPoint had withdrawn at least $31 million from its hot wallets on Ether (ETH), TRON (TRX) and Bitcoin (BTC). Since the number of bitcoins stolen is uncertain, the figure could be even higher.

Funds Stolen on the Ethereum Network, According to On-Chain Spy ZachXBT replaced for ETH before being joined by the Avalanche and Bitcoin blockchains. According to DeDotFi’s security team, the hack could Reason Leakage of private keys. The investigation is still going on.

AlphaPo is a payment processor that offers instant transactions in over 30 digital assets and balances in a range of fiat currencies. The company is known for being the crypto gateway for several gambling platforms including Hydrop, Ignition and Bovada.

alphapo hot wallet hacked

Over $31,000,000 stolen, with reports up to ~$100 million stolen.

Hot wallets were hacked on Ethereum, Tron and BTC. The stolen funds were swapped and distributed among various EOAs.

Here are the details of the event pic.twitter.com/bLeCLJvH6G

— De.Fi️ Web3 Antivirus (@DeDotFiSecurity) 23 July 2023

Following the incident, AlphaPoint’s client HipDrop stopped processing crypto transactions. mystery box platform Said Twitter said the hack resulted in problems with deposits and withdrawals. “Please know that your HyDrop funds are safe, but we encountered an issue on the cryptocurrency provider side. Processing deposits will be processed accordingly once the provider resumes operations.”

Despite not commenting on the incident, a spokesperson for AlphaPoint told Cointelegraph that deposits and withdrawals are being restored for the currency in batches, one at a time. “We request all our users to avoid sending funds to old deposit addresses. However, in the odd case that this happens, funds received from such deposits will be additionally verified.”

In another security incident over the past few days, decentralized finance protocol Conic Finance experienced two attacks in the space of a few hours. The first exploit saw $3.26 million in Ether stolen, with nearly the entire amount sent to an Ethereum address in just one transaction. The second incident occurred a few hours later, with Protocol revealing in a post-mortem report that it was a variant of a sandwich attack targeting his pools, and caused the attacker approximately $300,000 in damage.

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