The payment software provider warns that installing security updates may not remove attackers' access, as Bitcoin and Litecoin thefts continue.

BTCPay Server has urged merchants to rebuild outdated payment servers and replace wallets after attackers stole Bitcoin and Litecoin.

In a Nov. 2 security advisory, the open-source Bitcoin payment software provider warned that installing the latest update may not protect funds if hackers have already gained access to a server.

The warning follows a series of attacks targeting installations running version 2.4.1 or earlier, using a different method to exploit a vulnerability that BTCPay patched on Aug. 7.

Blockchain analytics firm Bitquery traced approximately $1.63 million in suspected thefts involving 18.38 BTC and 3,405 LTC across 682 wallet sweeps between Oct. 30 and Nov. 2.

Its investigation found that 87% of the funds moved during an eight-hour window on Nov. 1, with the busiest hour accounting for approximately $725,000 in transfers.

The findings provide an early indication of the attack's financial scale, although BTCPay has not confirmed a total loss figure or established how many merchants were compromised.

BTCPay said it regretted not doing more to reach operators still running outdated installations after its August security advisory. The project has issued several additional security updates since then, including version 2.4.7 on Oct. 29.

The suspected thefts continued even after BTCPay publicly warned operators to shut down their servers.

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