In a worrying incident, the cryptocurrency world witnessed security breaches on January 6 and 7 where CoinsPaid and Bounce Brand faced unauthorized access. These events raised alarms within the crypto community. He highlighted the ongoing challenges and risks associated with Bitcoin and altcoin asset management.
Millions of dollars hack in CoinsPaid
Yesterday, cryptokoin.com We stated that there were suspicious fund outflows in CoinsPaid. Now, according to Cyvers Alerts monitoring, on January 6, CoinsPaid suffered a significant security breach that resulted in multiple unauthorized transactions. Hackers successfully stole more than $6.1 million in crypto assets, including 4.8 million USDT, 500 ETH, 97 million CPD, and 106,000 USDC. The stolen CPD was quickly replaced with ETH, while the remaining assets were transferred to various EOA addresses. Some funds in particular have found their way into popular trading platforms such as MEXC, WhiteBIT and ChangeNOW.
This incident comes on the heels of earlier suspicions pointing to potential vulnerabilities in CoinsPaid. A suspicious outflow of $6.1 million from the platform’s hot wallet was detected just 17 hours before the massive breach. As a result, some customers, including Hypedrop, encountered problems processing withdrawals. The stolen funds have since been laundered through multiple trading platforms, including Whitebit, HitBTC, ChangeNow and N Exchange. This isn’t the first time CoinsPaid has been targeted. Because a similar attack by North Korean hackers in July 2023 resulted in a loss of $ 70 million.
Altcoin project Bounce Brand’s X account was compromised
On the other hand, the official Twitter account of decentralized finance platform Bounce Brand faced a suspected cyber attack on January 7. As it is known, Bounce is the platform behind the altcoin project called AUCTION. One wonders what the motivation of the person who hacked the account was. Because AUCTION may have suffered losses due to its recent price changes. Hackers took control of the account and frequently posted unrelated content, sparking concerns among platform users and the broader crypto community. The incident serves as a stark reminder of the vulnerabilities that exist in the decentralized space.
Regarding the suspected attack, we would like to warn users not to interact with the compromised account. The community is advised to remain vigilant, exercise caution, and prioritize the security of their crypto assets. Such incidents underscore the need for constant awareness and proactive measures to protect the integrity of cryptocurrency platforms. These latest security breaches underscore the persistent challenges the cryptocurrency industry faces in ensuring the safety and security of crypto assets.
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