Crypto payment platform Alphapo had at least $31 million drained from its hot wallets on Ether (ETH), TRON (TRX), and Bitcoin (BTC), security experts reported on July 22. Since the number of Bitcoins stolen is uncertain, the figures may be even higher. 

According to on-chain sleuth ZachXBT, the funds have been stolen on the Ethereum network, then swapped for ETH before being bridged to the Avalanche and Bitcoin blockchains. As per DeDotFi’s security team, the hack may have been caused by a leak of private keys. Investigations are still in progress.

Alphapo is a payment processor that offers instant transactions in over 30 digital assets and balances in a range of fiat currencies. The company is best known for being the crypto gateway for a number of gambling platforms, including HypeDrop, Ignition and Bovada.

Alphapo Hot Wallet Hacked

Over $31,000,000 stolen, with reports suggesting up to ~$100 million.

Hot wallet was hacked on Ethereum, Tron and BTC. Stolen funds were swapped and distributed among various EOAs.

: Here are the details of the incident pic.twitter.com/bLeCLJvH6G

— De.Fi ️ Web3 Antivirus (@DeDotFiSecurity) July 23, 2023

Following the incident, Alphapo’s client HypeDrop stopped processing crypto transactions. The mystery box platform said on Twitter that it is experiencing issues with deposits and withdrawals as a result of the hack. “Please know that your HypeDrop funds are safe, but we encountered an issue on the cryptocurrency provider’s side. Once the provider’s operations resume, processing deposits will be credited accordingly,” it stated.

Despite not commenting on the incident, a spokesperson for Alphapo told Cointelegraph that deposits and

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Author: Ana Paula Pereira

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