Alphapo’s hack now estimated at $60 million: ZachXBT

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Alphapo’s hack now estimated at $60 million: ZachXBT
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The total loss of the Alphapo hack, including funds on the Tron and Bitcoin networks, now stands at $60 million.

On-chain analyst ZachXBT noted an additional theft of $37 million, elevating the initial estimate from $23 million.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.The recent hack involving crypto payments processor Alphapo’s hot wallets is now estimated to have resulted in a loss of $60 million, as per the latest findings.

This updated figure comes after on-chain analyst ZachXBT identified an additional $37 million in stolen assets on the Tron and Bitcoin networks, raising the initial estimate ofAs a crypto payments processor, Alphapo managed transactions for online gambling platforms such as HypeDrop, Bovada, and Ignition. Given that hot wallets are online and constantly connected to the internet, they face a higher risk of cyberattacks compared to their offline counterparts: cold wallets.

The hackers in this instance appear to have swapped the stolen funds on Ethereum for ETH and then bridged them to other blockchains: Avalanche, Tron and Bitcoin. Affected companies and platforms, like HypeDrop in this case,The distinctive on-chain patterns associated with this breach, according to ZachXBT, align closely with operations previously linked to the Lazarus, a North Korean hacking group.

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