Millions Lost As CoinsPaid Gets Hacked Once Again
CoinsPaid, a payment processor facilitating transactions between conventional finance-oriented companies and crypto-paying customers, recently experienced a breach. The platform reports facilitating about a million transactions monthly, valued at around 7 million EUR, and claims to have managed over 19 billion euros in crypto transactions.
Another Attack
The Estonian platform encountered its second significant security breach in half a year. The initial breach, transpiring on July 22nd, resulted in a $37.3 million loss. Following a post-mortem, investigators identified the Lazarus Group, which hails via North Korea, as responsible for the attack. Lazarus executed the breach by tricking a CoinsPaid employee during a fabricated job interview, leading to the downloading of malicious code facilitating unauthorized withdrawal requests.
Damage Control
Recently, the platform faced another breach, with blockchain cybersecurity firm Cyvers detecting unauthorized transactions involving USDT, USDC, ETH, BNB, and the native CPD token. Approximately $7.5 million was pilfered and directed to an external wallet, then rerouted to crypto exchanges like ChangeNOW, WhiteBit, MEXC, and others.
The modus operandi resembled the July breach, hinting at a potential oversight by CoinsPaid in fully eradicating any and all access by the bad actor. Despite the comparatively smaller scale of this attack, the stolen amount aligns with what CoinsPaid claims is its monthly transaction volume. The platform, however, has not issued an official statement on the recent incident.
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