Alphapo, a centralized crypto payment provider, has fallen victim to a relentless assault by the notorious Alphapo hackers. Reports have surfaced suggesting that the damages caused have now surpassed a staggering $60 million, leaving the online crypto community in shock.

Initially, the reported damages stood at around $31 million, but as investigations progressed, the true scale of the breach became even more alarming. Alphapo, primarily serving e-commerce subscription services, online gaming platforms, and other internet-based businesses, has suffered significant losses. Another associated entity, Coinspaid, has also been hit hard by the aftermath of the breach.

On social media, vigilant on-chain investigator ZachXBT shared an alarming update. He revealed that the hackers managed to siphon off an additional $37 million in assets from both the Tron and Bitcoin networks. This indicates that the hackers continue to exploit vulnerabilities within the crypto space, posing a continued threat to the industry.

Alphapo served as a crucial player in facilitating transactions for various online gambling platforms, including HypeDrop, Ignition, and Bovada. These platforms are widely recognized for their popularity and high user engagement, making them lucrative targets for cybercriminals. The hack exposed vulnerabilities within Alphapo’s hot wallets, which are constantly connected to the internet for immediate transactions. This convenience, while ensuring quick access to funds, also makes them highly susceptible to cyberattacks compared to offline cold wallets that offer higher security.

HypeDrop, one of the affected platforms, acknowledged the troubling situation caused by the breach. The platform faced payment-related issues, leading to delays in withdrawals due to the impact on Alphapo’s operations. However, HypeDrop reassured its users that the withdrawal process would resume once the matter was resolved.

As the investigation into the Alphapo hack deepens, ZachXBT speculated about the potential involvement of the notorious Lazarus Group. Citing data from Dune Analytics, he mentioned distinct on-chain fingerprints aligning with the group’s modus operandi. The Lazarus Group gained infamy with the cybersecurity community in 2014 and has since been responsible for numerous high-profile cyber attacks, including the $540 million hack of Ronin Bridge in April 2022.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.