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Ethereum, Tron and Bitcoin worth $23 million drained from Alphapo hot wallets

  • A crypto payment service provider Alphapo’s hot wallet was hacked and $23 million in Ethereum, Tron and Bitcoin were stolen. 
  • Ether stolen by the attacker was bridged to Avalanche and Bitcoin. 
  • The payment processor caters to crypto gambling services, withdrawal services on HypeDrop, Bovada and Ignition are affected. 

Altcoins like Ethereum, Tron and others in the top 50 cryptocurrencies by market capitalization are making strides in the ongoing alt season in July. Amidst this, crypto payment processor Alphapo was hit by a hack, the firm’s hot wallets were drained of $23 million in Ethereum (ETH), Tron (TRX) and Bitcoin (BTC).

Also read: Hong Kong takes crypto China narrative forward with crypto trading launch by securities firm

Crypto payment processor drained of millions in altcoins

Crypto influencer and analyst ZachXBT monitored the state of crypto payment processor Alphapo and identified a hack of $23 million. Hot wallets of the processor were drained for Ether, Tron and BTC early on Sunday. 

The stolen funds were converted to Ether and then bridged to Avalanche and Bitcoin on the ETH blockchain. In response to the hack, crypto withdrawals of gambling services HypeDrop, Bovada and Ignition were hampered and users were unable to access their funds.

The wallet addresses associated with the $23 million hack have been identified:

  • 0x040a96659fd7118259ebcd547771f6ecb9580d17
  • 0x6d2e8a20b8afa88d92406d315b67822c01e53c38
  • TKSitnfTLVMRbJsF1i2UH5hNUeHLDrXDiY
  • TDoNAZHa7WxarUAFbQUhiijTGtd7EpbzRh
  • TJF7mdFxDuHB4tb9hoyR4SCpKxk7gr23ym

The complete extent of the Bitcoin theft remains unclear at the time of writing. Crypto intelligence trackers are conducting their investigation alongside cybersecurity experts and analyzing the involved addresses on-chain.

Incidents similar to the one that currently plagues Alphapo are common in the DeFi ecosystem and blockchain intelligence firm PeckShield observed more than 395 major hacks in the Web3 space. A total of $479.4 million in funds was lost to such exploits and the top 10 accounted for $378.3 million worth of hacks.


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