Alphapo, a cryptocurrency payment platform, suffered a loss of over $31 million from its hot wallets in Ether, TRON, and Bitcoin, with the possibility of the total loss being even higher due to the uncertain amount of stolen Bitcoins.

The money was taken off the Ethereum network, exchanged for ETH, and then bridged to the Avalanche and Bitcoin blockchains, claims on-chain investigator ZachXBT. According to the security staff at DeDotFi, a leak of private keys may have been the reason for the breach. Investigations continue to be underway.

A payment processor called Alphapo enables real-time transactions with over 30 different digital currencies as well as balances in various fiat currencies. The company has become well-known for serving as the cryptocurrency gateway for several gambling platforms, such as HypeDrop, Ignition, and Bovada. Through Alphapo's services, these gambling sites can accept crypto deposits and payouts along with fiat, making it easy for users to wager with their preferred currency. By supporting numerous assets, Alphapo brings more flexibility and access to the online gambling industry.

After the security breach, HypeDrop, a client of Alphapo, temporarily halted crypto transactions and informed its users on Twitter that they were facing difficulties with deposits and withdrawals due to the hack, reassuring them that their funds were secure and would be credited once the cryptocurrency provider's operations are restored.

Alphapo refused to comment on the issue, but a spokeswoman for the company said that deposits and withdrawals are now being allowed for groups of currencies at once. "We kindly request all our users to refrain from sending funds to the old deposit addresses. However, in the odd case this happens, the funds deriving from such deposits will be additionally verified."

In a separate incident, Conic Finance, a decentralized financial system, was subject to two attacks in a couple of hours during a recent security issue. In the first security breach, around $3.26 million in Ether was stolen in a single transaction sent to an Ethereum address. Just hours later, Conic was exploited again in a type of sandwich attack on its pools that netted the hacker approximately $300,000, as per a post-incident report. In the span of one day, Conic suffered two devastating exploits resulting in over $3.5 million lost.