In a daring hacker attack on July 22nd, CoinsPaid managed to fend off the notorious Lazarus Group, a powerful cybercriminal organization, preventing the theft of a staggering USD 37.3M, as per the blog.
Lazarus Group, known for targeting world-renowned companies like Sony (USD 81M), Axie Infinity (USD 625M), Horizon Bridge (USD 100M), Atomic Wallet (USD 100M), and Alphapo (USD 60M), found their nefarious plans foiled by CoinsPaid’s vigilant team of experts.
Despite experiencing partial downtime and revenue impact, CoinsPaid ensured the safety of customer funds, upholding its top priority. The company’s dedicated team worked tirelessly to fortify their systems and minimize the damage, leaving Lazarus Group with a record-low reward from their attack.
Promptly responding to the incident, CoinsPaid launched an investigation utilizing various blockchain analytics tools to trace and mark the stolen funds.
The company received tremendous support from the crypto community, with key players like Crystal, Chainalysis, Match Systems, Valkyrieinvest, Staked.us, OKCoinJapan, Binance, and more assisting in the efforts.
CoinsPaid’s CEO, Max Krupyshev, emphasized the company’s determination to recover and continue delivering innovative payment solutions despite the setback. On July 25th, CoinsPaid officially reported the incident to the Estonian law enforcement agency and pledged full cooperation throughout the investigation process.
Also Read: Alphapo Wallet Total Hack Amount Increases to $60M: ZachXBT
Looking towards the future, CoinsPaid plans to organize a round table with other Lazarus victims, unveiling a new initiative to minimize and prevent such attacks. The company invites leading exchanges like Binance, Kraken, Coinbase, Bitfinex, and OKX to participate in this essential endeavor.
