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Is Lazarus behind the attack on CoinsPaid?

North Korean hacker army Lazarus is said to be behind the attack on crypto-payment platform CoinsPaid.

By Luc Vesters
• 2 min read
Is Lazarus behind the attack on CoinsPaid?

North Korean hacker army Lazarus is said to be behind the attack on crypto-payment platform CoinsPaid. This is contained in a statement from the company.

On July 22, unknown persons gained access to the platform's funds and stole nearly $37 million in cryptocurrencies. CoinsPaid then suspended business operations for four days.

The exact course of events remains unclear, also because CoinsPaid did not provide specific information in the statement. However, the company assures, "Customer funds are intact."

Cyber experts from the security firm View post on X see links between the CoinsPaid hack and the attacks on Atomic Wallet ($35 million) and Alphabo ($37 million). According to them, an address records cash withdrawals from the hot wallets of the affected platforms.

Lazarus is one of the crypto industry's bugbears. The hacker group is responsible for numerous multi-million hacks. The collective achieved the biggest coup in March 2022 when they stole more than US$600 million from the blockchain game Axie Infinity. The group is believed to be using the attacks to fund North Korea's nuclear program.

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