Crypto payment company CoinsPaid suffers a $37 million attack by suspected North Korean hackers from the Lazarus Group. Despite losing funds from its reserves, customer deposits remain untouched.
On July 22, cryptocurrency payment system CoinsPaid fell victim to a $37 million cyber-attack, allegedly carried out by the Lazarus Group, a group of North Korean hackers. While the company's reserves were drained, customer deposits were not affected. CoinsPaid has apologized for the incident's impact on its platform and believes the hackers anticipated a more successful outcome.
Since the attack, CoinsPaid has strengthened its security measures and resumed transaction processing. The Lazarus Group has a notorious reputation for its involvement in several major cryptocurrency thefts, with some of the stolen funds allegedly used to fund North Korea's nuclear weapons program.
