Hackers Used Fake Job Interview to Steal $37M from CoinsPaid

A recent cyberattack on CoinsPaid resulted in a $37 million theft, with hackers using a fake job interview to gain access.

A man being interviewed by a hacker

On July 22, 2023, CoinsPaid, a major player in the crypto payment world, was hit by a cyberattack that left them $37.3 million lighter. The method? A fake job interview that fooled one of their programmers. It's a chilling reminder of how human vulnerability can be exploited in cybersecurity.

Imagine being that programmer, contacted on LinkedIn with an exciting job offer, only to find out it was a trap. During a 40-minute video interview, he was asked to download a file for a technical test. Little did he know, that file was the key to the company's vault.

Read also: The MedusaBlog hackers published 1.5 tb of stolen data

The culprits are believed to be the Lazarus Group, a notorious hacker group with ties to North Korea. They're no strangers to the spotlight, having pulled off global hacking campaigns like the 2017 WannaCry attack.

But this wasn't a one-off hit. The hackers had been stalking CoinsPaid for six months, trying everything from social engineering to brute force attacks. They even fabricated fake job offers with salaries up to $24,000 a month to lure in key personnel.

Their persistence paid off on that fateful day in July. The stolen funds were quickly laundered, mostly through SwftSwap, with the hackers losing about 15% in fees and market swings.

CoinsPaid didn't take this lying down. They teamed up with Match Systems to trace the money and dissect the attack. Their findings? A sobering look at the rise of social engineering and phishing, considered by 75% of cybersecurity specialists as the top threats this year.

The incident has sparked a wider conversation in the blockchain community about the ever-evolving challenges of hacking and the urgent need for fresh security strategies. CoinsPaid is even planning to host a round-table event to dig deeper into these issues with industry leaders and experts.