CoinsPaid has experienced its second security breach in six months, according to Web3 security firm Cyvers.
Crypto payment gateway CoinsPaid has experienced its second security breach in the past six months. Web3 security firm Cyvers reported detecting unauthorized transactions of nearly $7.5 million.
Cyvers’ artificial intelligence system detected multiple irregular transactions on Jan. 6, allowing the withdrawal of $6.1 million worth of digital assets in Tether (USDT), Ether (ETH), USD Coin (USDC), and CoinsPaid’s native token CPD.
According to Cyver’s team on X (formerly Twitter), the attacker swapped around 97 million CPD tokens worth approximately $368,000 for ETH, then moved the funds to externally owned accounts (EOAs) and crypto exchanges MEXC, WhiteBit, and ChangeNOW. CoinGecko’s data shows CPD trading at $0.0006 at the time of writing, down 39.5% in 24 hours.
