🚨 Ukrainian firm coinspaid recently fell victim to a $37.3 million hack, likely by North Korean hackers Lazarus. The attack involved phishing, bribery and DDOS, highlighting the need for robust security measures.
The attackers had been targeting CoinsPaid for months before finally pulling off the theft, CoinsPaid said. Fishing and social engineering attempts started in March, including a request from someone posing as a fellow Ukrainian crypto processing startup, who was asking CoinsPaid developers about the firm’s technical infrastructure, the blog post said. The attackers also tried to bribe CoinsPaid staff and engaged in distributed denial-of-service attacks aimed at the company’s servers.
During late-European hours on a Friday night on July 21, the attackers got access to CoinsPaid’s blockchain node and requested a large withdrawal of Tron-based USDT, bitcoin and several ERC20 tokens running on the Ethereum blockchain, Pavel Kashuba, CoinsPaid chief financial officer, told CoinDesk in an interview. The active phase of the attack took about four hours 23 minutes, he said.
Bitcoin was laundered via the Sindbad mixer, which, according to the blockchain intel firm Elliptic, is theCoinsPaid said, although they notified the centralized exchanges as soon as they saw funds moving there, labeling crime-related addresses and taking action by exchanges is a process too slow to keep up with the hackers, who were cashing out in a matter of minutes.
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