The notorious organization, the Lazarus Group, which hails from North Korea, seems to wreak havoc within the cryptocurrency industry.
Coinpaid suspects, the group is the threat actor that carried out the cyber scam on its internal systems.
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As a result of the scam, CoinPaid lost about $37.3 million during the process, although details of the theft weren’t provided.
Quick Takes
- Due to the cyber-attack on its internal systems on July 22, CoinPaid has suspended operations for four consecutive days.
- Immediately, CoinPaid initiated an investigation, using different blockchain analytics devices to trace and identify their stolen funds.
- However, its latest post declared the resumption of its operations. The platform also declared that it is seriously collaborating with the Estonian government to investigate the scam.
- TCoinPaid views the notorious Lazarus Group as the most powerful hacker, which has collectively siphoned hundreds of millions from well-known platforms like; Sony, Atomic Wallet, Horizon Bridge, Axie Infinity, and the latest Alphapo.
- CoinPaid made mention that its customer funds weren’t affected by the cyber-attack. Rather, what was affected by the scam was CoinPaid’s revenue and availability.
- In response to the cyber-attack, Max Krupyshev, the company’s CEO, stated that after the temporary downtime, CoinPaid’s services will revive one after the other in a new safe environment.
- He further said the platform would take a few days to sort out little details and ensure their systems operate flawlessly. In addition, he assures their customers the platform will surely bounce back and keep on providing top-notch innovative payment solutions despite the hack.
- CoinPaid appreciates companies like; Chainalysis, Crystal, Binance, OKCoinJapan, Staked.us, and Match Systems for assisting them in their investigations.
What’s Happening In Crypto Today?
As of this writing, the price of Bitcoin is at $29,476.95, with an increase in market cap by 0.83% and another increase in trading volume by 26.93%.
Ethereum, on the other hand, is currently trading at $1,876.55 with an increase in market cap by 1.01% and another increase in trading volume by 29.88%.
- Presently, Polygon is trading at $0.7292 with a small increase in market cap by 3.41% and an increase in trading volume by 29.84%.
- Litecoin is trading at $91.19 with an increase in market cap by 2.01% and another increase in trading volume by 30.54%.
- Polkadot presently trades at $5.28, with a slight increase in market cap by 1.69% and an increase in trading volume by 15.61%.
