'Humans remain the weakest link,' CoinsPaid CEO Max Krupyshev said, discussing the crypto payment processor's $37.3 million hack.
Krupyshev declined to comment regarding any connection to Alphapo and if the attacks on both platforms were linked.Social engineering exploits have been prevalent in the crypto space for some time. However, advancements in social networks and AI meant that CoinsPaid's vulnerability to manipulative attacks on individuals rather than systems had increased and is something the entire crypto industry needs to adopt different approaches to combating, Krupyshev said.
CoinsPaid is now taking steps to improve employee education on advanced social engineering, such as luring with fake job offers, bribery or seemingly innocuous tech inquiries to gain access to a company's infrastructure, as happened in this case. It is also changing access rights for its operational processes to limit exposure risks, Krupyshev explained.CoinsPaid's call to action
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