Alphapo reportedly loses $60 Million to Hackers

Alphapo, a renowned instant payment solutions provider supporting over 30 digital currencies and acting as a payment gateway for numerous gambling platforms, has reportedly fallen victim to a significant cyberattack resulting in the theft of millions of dollars in digital assets.

According to DeDotFi, a prominent web3 security company, the hack targeted Alphapo’s hot wallet and resulted in the loss of more than $60 million.

Initial reports indicated that the loss was $31 Million but at the time of writing this report, the figure had increased substantially.

Losses Could reach $100 Million

Furthermore, unverified claims are circulating, indicating that the losses could reach an astonishing $100 million. The perpetrators supposedly took advantage of vulnerabilities in the hot wallet’s security, which granted them access to pilfer cryptocurrencies like BTC, Tron, and Ethereum.

After the theft, the attackers converted the stolen funds into ETH and then laundered them through Avalanche and Bitcoin to obscure the trail.

Currently, an investigation has been launched to determine the cause and extent of the breach. Suspicions point to leaked private keys aiding the hack, but specifics remain undisclosed. The exact amount of stolen BTC is uncertain, affecting the final loss estimation.

Alphapo working to restore full operations

In response to the incident, Alphapo’s spokesperson confirmed that they are working to restore withdrawals and deposits in various currencies gradually. They advised users not to send funds to old deposit addresses, and any such transactions will undergo additional verification before processing.

One of Alphapo’s clients, HypeDrop, specializing in mystery boxes, acknowledged the temporary impact of the hack on crypto deposits and withdrawals through a tweet. However, they reassured their users that their funds are safe, and they apologized for any inconvenience caused during the resolution process.

Gambling Partners Unclear

As the situation unfolds, it remains unclear whether other Alphapo partners, including Bovada, Ignition, or other gambling operators, have been affected by the attack on the hot wallets.

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