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Crypto Exchange Hotbit Hacked With 2M Users Affected

  • Hotbit, a cryptocurrency exchange, announced they were hacked.
  • The cyberattack happened around 08:00 PM UTC on April 29, 2021.
  • This incident has led to system paralysis and will take 7-14 days to recover.

Hotbit, a cryptocurrency exchange with 2 million users all over the world, has suffered a serious cyberattack this April 29. The system hacking led to a paralyzation of many basic services. As a result, the platform has shut down for the time being.

On Friday, Hotbit announced,

Hotbit Team has shut down all services for inspection and restoration immediately.

The cyberattack took place around 08:00 PM UTC on April 29, 2021. Further, the announcement says the attackers also tried to hack into Hotbit’s wallets. Luckily, the risk control system identified and stopped the attempt.

In other news, the exchange says they are on the verge of surpassing 2 million registered users. Also, it has a huge service system architecture of more than 200 servers online. Following the attack, the team will completely rebuild all servers to ensure security.

This would mean that the exchange expects it to take about 7-14 days to recover. However, emphasizing that it should not take less than 7 days, the estimated recovery time will be longer as everything progresses.

Once the attack was announced, crypto transfers were detected from Hotbit’s addresses. Regarding the transfers, Hotbit claims on a tweet,

Wherein the exchange claims these transfers are the result of the creation of a new cold wallet. Especially, the attacker deleted the users’ database after gaining no assets. These included users’ registered phone numbers, email addresses, and asset information,

The crypto exchange added, Hotbit still needs time for a comprehensive inspection.

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Irina Abramovich

Irina is a language expert that speaks English, Turkish, Uzbek, and Kazakh. She constantly sweeps the Russian-speaking cyberworld for news. She occasionally submits her write-ups to CoinQuora.

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