The renowned North Korean hacker organization Lazarus is accused of hacking Alphapo in a recent cyber attack that has sent shockwaves throughout the financial sector. This is a well-known payment processor that works with gaming sites and e-commerce platforms.
The hacking squad targeted Alphapos hot wallets a week ago, and the vulnerability occurred. They were able to steal more than $23 million in Ethereum (ETH), Bitcoin (BTC), and Tron (TRX). The first attack resulted in the loss of 6 million USDT tokens, $108,000 in USDC, 2,500 ETH, and several other tokens. After that, they were quickly transformed into stablecoins and Bitcoin over the Avalanche network. The actual quantity of native Bitcoin taken has yet to be determined.
Unfortunately, this was not the end of the incident. This is as Alphapo was hit with a second flaw just days later, resulting in another $37 million in stolen Bitcoin and other cryptocurrencies. The total amount stolen from Alphapo’s hot wallets has now surpassed $60 million.
For years, Lazarus has been a major participant in the Bitcoin hacking field. The organization is said to have taken over $2 billion through different flaws and assaults. Because of their distinct on-chain fingerprint, their new operation against Alphapo has aroused worries. This shows that they were involved in this particular instance.
— Walletor (@walletorapp) July 31, 2023
Lazarus has previously disguised as a venture capital firm in order to spread malware and has been tied to other high-profile intrusions. This includes the $100 million Atomic Wallet assault and the $100 million Harmony Bridge hack.
All in all, the latest Alphapo assault raises concerns about the security mechanisms in place for bitcoin platforms. Moreover, as the popularity and use of cryptocurrency exchanges grow, it is critical that businesses and investors take cybersecurity seriously.
The search for Lazarus continues, and the worldwide community must collaborate to put a stop to their operations and bring these fraudsters to jail, protecting the expanding world of cryptocurrency from malevolent actors.