In less than a week after the Lazarus Group hacker attack, CoinsPaid is fully back up and running, and the volume of transactions processed is already 80% of what it was before the attack. 

CoinsPaid Recovers After Lazarus Group Attack

CoinsPaid representatives reported that the weekly volume of crypto transaction processing was almost restored after the hacker attack. Internal data from the Crystal Blockchain service is provided as a visual illustration. 

The platform’s availability was recovered within two days. It took less than a week to process 80% of the transaction volume observed before the hack. All payment requests that were received while the infrastructure was being migrated to a more secure environment were successfully processed manually to avoid potential errors. The company emphasizes that customer funds remain safe and have been paid out in full. 

CoinsPaid’s new highly secure environment involves: 

  • complete isolation from external access; 
  • maximum restriction of outgoing network traffic; 
  • a limited number of employees with interconnection access.

On top of that, the company conducts internal audits at all operational levels, from access rights to inter-cluster network communications. 

This was a valuable stress test, but now we are moving forward. Security remains our utmost priority, and we have already initiated negotiations with the world’s leading cybersecurity audit providers,” said Max Krupyshev, CEO of CoinsPaid.

An investigation of the incident with the active involvement of law enforcement agencies is underway. CoinsPaid, in cooperation with Match Systems, is also conducting its own investigation of the attack. According to the statement, its results may be made public in the next few days. 

CoinsPaid is actively preparing a conference and a panel discussion with other Lazarus Group victims that will take place in the near future. A new initiative aimed at minimizing and preventing similar attacks in the future will be unveiled during the event. According to CoinsPaid representatives, the Lazarus Group attack turned out to be a costly experience and the company’s management plans to use it to influence the formation of a safer and more stable environment for the entire cryptocurrency market. 

Author: Evgeny Tarasov
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