The on-chain detective ZachXBT has discovered an additional $37 million of hacked funds taken during the Alphapo hack, and he suspects the involvement of the notorious Lazarus Group.

In July, decentralized finance (DeFi) hacks amounted to more than $100 million. And one of the victims of hackers is the Alphapo hot wallet.

The on-chain sleuth ZachXBT tweeted that he discovered the additional $37 million stolen on the Tron and Bitcoin networks through the Alphapo hack. The latest update shows that the hackers stole over $60 million in from the Alphapo hot wallet in total.

Learn the difference between a hot wallet and a cold wallet here.

Over the weekend, BeInCrypto reported that hackers drained around $23 million from the crypto payment processor Alphapo. The protocol serves as the payment processing service provider for crypto gambling projects such as HypeDrop, Ignition, and Bovada. 

Additionally, ZachXBT suspects that the Lazarus group must have conducted the hack due to a distinct on-chain fingerprint. The Lazarus group is one of the infamous North Korea-backed cryptocurrency hackers, notably responsible for Axie Infinity’s $630 million Ronin bridge hack in 2022.

In January, the US Federal Bureau of Investigation (FBI) confirmed that the Lazarus Group also conducted the $100 million Harmony Bridge hack.

For a couple of years, DeFi hacks have been making headlines every other week. A community member, writing on Twitter, wonders what the solution to the frequent hacks can be:

Is it just a matter of stronger audits, or are there other ways to defend against an attacker like Lazarus?

Got something to say about the Alphapo hack or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or Twitter.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

The post On-Chain Sleuth Tracks Down More Funds Stolen in Alphapo Hack appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

136 +