In a recent turn of events, CoinsPaid, a cryptocurrency payment processor, has suffered a major theft of $7.5 million in cryptocurrencies. This is the second major crypto theft to hit the company in the last year.

CoinsPaid is a cryptocurrency payment processor that allows merchants to accept payments in Bitcoin, Ethereum, and other major cryptocurrencies. The company also provides a wallet service for users to store their digital assets.

The theft occurred on February 3rd when hackers gained access to the CoinsPaid wallet and transferred out $7.5 million worth of cryptocurrencies. The hackers were able to bypass the company’s security measures and gain access to the wallet.

The company has since released a statement saying that they are working with law enforcement to investigate the incident and are taking steps to prevent similar incidents from happening in the future. They have also stated that they will reimburse any users who lost funds due to the hack.

This is not the first time CoinsPaid has been targeted by hackers. Last year, the company suffered a similar attack where hackers stole $2 million worth of cryptocurrencies.

The incident highlights the importance of security when it comes to cryptocurrency. It is essential that companies take steps to protect their digital assets and ensure that their wallets are secure. Additionally, users should also take steps to protect their own wallets by using strong passwords and two-factor authentication.

Cryptocurrency is still a relatively new technology and it is important that companies and users alike take steps to ensure their digital assets are secure. While this latest incident is unfortunate, it serves as a reminder of the importance of security when it comes to cryptocurrency.