CoinsPaid survived the hack with an expensive lesson, CEO says
Hackers have stolen $37.3 million from CoinsPaid, leading to a significant loss for the company. Its CEO shared with crypto.news the lesson s learned and the steps taken following the cyberattack. While a report in May revealed that crypto hacks have decreased by around 70% in the first quarter of 2023, a follow-up study in July unveiled that hackers have stolen roughly $450 million in the first half of the year. Among the top exploits is the social engineered CoinsPaid hack. The Ukrainian crypto payments provider, based in Estonia, suffered a reportedly $37.3 million attack on July 26. The company suspected the North Korean hackers’ guild, known as the Lazarus group. “The reason we suspected them [Lazarus Group] is that everyone who came under Lazarus Group’s attacks had very similar, if not identical money laundering schemes, using bridges and mixers.” Max Krupyshev, co-founder and CEO of CoinsPaid, told crypto.news. The CEO added that investigations revealed a similar patter...