Alphapho Hack Amounts to $60 Million In Losses


July 25, 2023


Gabriel Negrín

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According to on-chain analyst ZachXBT, the crypto payment provider Alphapo hack on July 23 has resulted in losses of over $60M.

Despite the loss earlier being listed as $31M, further investigation shows that the hackers stole an additional $37M from the business. This new figure comes from former addresses on the Tron and Bitcoin networks. 

Alphapo's hot wallets were purportedly emptied of at least $21 million. This forced the company to stop withdrawals. However, Alphapo has declined to acknowledge the incident. 

Alphapo stated that it would reinstate deposits and withdrawals at new addresses. Funds deposited to old addresses would be "additionally verified." 

The report further suggests that the Lazarus Group, a well-known cybercrime group with ties to North Korea, carried out the attack. 

This attack led to losses following similar mysterious large-scale withdrawals by the Multichain protocol in early July.