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CoinsPaid Faces Second Security Breach in Six Months, Unauthorized Transactions Totaling $7.5 Million Detected
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The Estonian payment processor for digital assets, CoinsPaid, has suffered its second security breach in the last six months, with unauthorized transactions totaling almost $7.5 million, web3 security firm Cyvers reported.
Cyvers’ artificial intelligence system identified multiple irregular transactions at 1:26 pm GMT on January 6, resulting in the withdrawal of $6.1 million worth of digital assets, including Tether (USDT), Ether (ETH), USD Coin (USDC), and CoinsPaid’s native token CPD.
The attacker reportedly swapped around 97 million CPD tokens, valued at approximately $368,000, for ETH and subsequently transferred the funds to externally owned accounts (EOAs) and various crypto exchanges, including MEXC, WhiteBit, and ChangeNOW.
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