CoinsPaid Becomes Latest Exchange To Be HACKED
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January 7, 2024 12:37 pm
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CoinsPaid has become the latest exchange to fall victim to a hack.
According to recent reports, the exchange suffered an exploit via its hot wallet access measures that sources say were easily exploitable. The hackers, thought to also be responsible for the Orbit hack, have been identified as the infamous Lazarus Group.
Although numerous cybersecurity firms are pointing to the likelihood of the infamous North Korean hacker group being responsible for the attack, this has yet to be confirmed.
Sources say the hackers drained various cryptos from the exchange including USDT, USDC, ETH, and BNB; the hackers then converted all the stolen funds to ETH and transferred them to other exchanges. Bein Crypto reports:
The perpetrators converted the stolen assets into ETH and transferred them to externally owned accounts on both the Ethereum and BNB chains. They also funneled the funds into several centralized exchanges, such as MEXC, ChangeNow, and WhiteBit.
Cyvers, a web 3.0 security firm, sounded the alarm: “$6M! Could have been saved… coinsPaid faced a second hack, losing $8M, after previously declining Cyvers’ advanced security solution. Last August’s $37M hack was a warning. Our detection of this latest breach proves the value of proactive security. Don’t wait for a third strike!”
🚨 $6M! Could have been saved… 🚨@coinspaid faced a second hack, losing $8M, after previously declining Cyvers' advanced security solution.
Last August's $37M hack was a warning. Our detection of this latest breach proves the value of proactive security.
Don't wait for a… pic.twitter.com/bntVfyJ8ho
— Cyvers | Proactive Web3 Security (@Cyvers_) January 7, 2024
🚨UPDATE🚨After more investigation, our system has detected more unauthorized transactions on #BNB too involving @coinspaid
Hacker has got another $1M worth of digital assets 924K BSC-USD and 268.5 $BNB.
All together total loss is $7.5MHacker's address:… https://t.co/877vBm0Uah pic.twitter.com/xD6tg9QznK
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) January 6, 2024
🚨ALERT🚨Our AI powered system has detected multiple unauthorized transactions with @coinspaid
Hacker was able to gain more than $6.1M worth of digital assets involving 4.8M $USDT, 500 $ETH 97M $CPD and 106K $USDC.
All $CPD has been swapped for $ETH and rest of the digital… pic.twitter.com/pIDS1pkh5m
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) January 6, 2024
🚨 ~$6M EXCHANGE EXPLOIT 🚨@coinspaid experienced a 2nd hack, which happened yesterday, affecting its hot wallets
Consequences are devastating: more than $6M worth of users' funds were stolen and laundered via multiple exchanges
⚠️ On-chain details 👇#de_fi pic.twitter.com/JXpOMwidBi
— De.Fi Antivirus Web3 🛡️ (@De_FiSecurity) January 6, 2024
Crypto News pointed out:
Blockchain analysts from Match Systems have found that the Orbit Chain hackers used the same tactics as those in several other high-profile attacks – suggesting that a cybercrime organization, possibly the infamous Lazarus Group, stands behind these hacks.
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