Alphapo, a prominent cryptocurrency payment service provider, suffered a significant security breach within its hot wallet, resulting in a loss of over $60 million, with reports suggesting total losses could reach around $100 million, according to web3 antivirus company De.Fi. Blockchain investigator ZachXBT uncovered the hack, which involved theft across multiple platforms, with stolen funds dispersed across various External Owned Accounts (EOAs).
The situation remains under investigation, and the attackers, associated with specific addresses, are still unidentified. De.Fi indicates that private key leakage may have played a role in the breach. Alphapo’s importance as a payment conduit for gambling services like HypeDrop, Bovada, and Ignition has raised concerns in the crypto community, and HypeDrop, one of Alphapo’s customers, had to quickly suspend withdrawal services. However, the company has assured its users that their funds are secure.
The attacked wallet, Alphapo.eth, saw its funds converted into Ethereum (ETH), which were then routed through different channels, including Avalanche and Bitcoin. The ongoing investigation aims to confirm the exact amount of stolen Bitcoin, which remains unconfirmed outside of DeFi and ZachXBT’s projections. As of press time, the total amount discovered exceeds $60 million.