Hackers Reportedly Steal $31M in Crypto from Alphapo

Alphapo is globally recognized as an instant payment solutions provider that supports more than 30 digital currencies and serves as a payment gateway for multiple gambling platforms. Despite the robust efforts of the company’s security team, media reports suggest that it may have become the latest victim of a massive hacker attack that resulted in the theft of millions of dollars in the form of digital assets.

DeDotFi, the globally-recognized web3 security company, revealed Sunday that Alphapo’s hot wallet has been hacked. Reportedly the massive hack attack has resulted in the theft of more than $31 million. However, some reports online suggested the losses may be up to $100 million. Reportedly, Alphapo’s hot wallet was hacked on BTC, Tron and Ethereum. Once the attackers hacked the wallet, the stolen funds were converted into ETH. Then, the hackers “routed them through Avalanche and Bitcoin,” explains DeDotFi regarding the incident.

Investigation into the Massive Hack Continues

The security company confirmed that an investigation into the incident is currently ongoing. For the moment, the cause of the security breach is believed to be the leakage of private keys. Currently, it remains unclear what is the total amount of BTC that was stolen, which means that the losses may differ from the initial estimate of $31 million.

A representative of Alphapo did not address the incident but confirmed that withdrawals and deposits in different currencies are being reinstated in batches, suggests a report from Cointelegraph. The spokesperson for the payment solutions company pointed out: “We kindly request all our users to refrain from sending funds to the old deposit addresses. However, in the odd case this happens, the funds deriving from such deposits will be additionally verified.”

One of Alphapo’s clients, HypeDrop, a platform that focuses on mystery boxes, announced via Twitter that crypto deposits and withdrawals were temporarily impacted due to an “issue on the cryptocurrency provider’s side.” Still, the company reaffirmed that the funds of their users are safe and apologized for any inconvenience caused.

It remains unclear if other Alphapo partners, such as Bovada, Ignition, or gambling operators were impacted by the hot wallets hack.