Marcel ‘s passion for the world of cryptocurrencies and his comprehensive knowledge of blockchain technology make him an invaluable asset to our team. He stays updated on the latest trends, regulations, and emerging technologies in the crypto space, ensuring that our audience receives accurate and up-to-date information.
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The Estonian firm CoinsPaid, which offers services for bitcoin payments, acknowledged that it was the target of a cyberattack on July 23, 2023. Cryptocurrency worth $37.2 million was stolen. The finances and client data were safe despite the considerable impact on the budget and platform interruptions.
The North Korean hacking collective Lazarus is responsible for the attack on CoinsPaid. Experts are confident that the state supports criminal activities. According to the press statement, the organization was likely only motivated by financial considerations and sought to increase money.
Why the cryptobank’s Administration Links the Event to Lazarus
The business has been hard at work securing its systems ever since the incident. Experts worked to reduce the advantages for hackers while eliminating the negative effects of hacking. Now that everything is being restored in a new, more secure environment, the platform is gradually returning to regular operation. It is anticipated that the revenue decrease will shortly be completely made up.
The inquiry is being assisted, according to Max Krupyshev, CEO of CoinsPaid, by companies including Chainalysis, Binance, Crystal, Match Systems, Staked.us, OKCoinJapan, and Valkyrieinvest. Additionally engaged are Estonian law enforcement agencies. We are certain that hackers will face consequences, according to Krupyshev.
The involvement of North Korean hackers in such events is not new. Therefore, the theft of $60 million from the Alphapo payment platform, which is also connected to the group’s activities, was reported the day before. However, no hard data has yet been offered. South Korean website owners also report hacks and say Lazarus was responsible.
Lazarus has already been implicated in a number of significant thefts, including the theft of 35 million from Atomic Wallet, 100 million from Harmony Horizon, and a record 617 million from the blockchain game Axie Infinity.