Hackers have stolen over $23 million worth of crypto assets from hot wallets belonging to crypto payments service provider Alphapo.

On-chain sleuth ZachXBT first identified the hack, stating that it affected Alphapo’s Ethereum, Bitcoin, and TRON hot wallets. The hacker swapped funds stolen on Ethereum for ETH and bridged it to Avalanche and Bitcoin.

The Scale of Alphapo’s Exploit

Blockchain security firm PeckShield corroborated ZachXBT’s report, noting that the stolen funds include 6.074 million USDT, $108,000 USDC, 100.2M FTN, 430K TFL, 2.5K ETH, and 1,700 DAI. All the funds were drained to 0x040a.

The hacker swapped the stablecoins for 5.73 ETH before bridging them to BTC through the Avalanche Bridge. They also drained about 12 million USDT and 5.2 million TRX to TKSitn before transferring the funds to TDoNAZHa7.

Alphapo is the payment processor for several crypto-gambling platforms, including HypeDrop, Ignition, and Bovada. The hack could have significant impacts, given the several high-profile crypto gambling sites that use its service.

The incident has led to HypeD

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Author: Oluwapelumi Adejumo

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