Systems paralyzed, 2 million users affected – exchanges Bitcoin news

A cryptocurrency exchange with approximately 2 million users worldwide has announced it has “undergone a serious cyber attack.” A number of basic services have been paralyzed and the attacker tried to access the wallet’s wallets. As a result, the platform has been shut down, with the announcement that it must conduct an “expanded inspection” which is expected to take one to two weeks.

Hotbit says it has ‘suffered a serious cyber attack’

Crypto exchange Hotbit announced on Friday:

Hotbit has just had a serious cyber attack that started around 8:00 PM UTC, April 29, 2020, which paralyzed some basic services.

The announcement adds that “the attackers also tried to hack Hotbit’s wallets,” but the exchange claims that “the attempt was identified and stopped by our risk control system.”

The exchange says it is “about to exceed 2 million registered users and has a massive service system architecture of more than 200 servers online, to ensure security, the Hotbit team will rebuild all servers from scratch.”

While the exchange insisted that all client assets are “safe and secure,” the exchange announced:

The Hotbit team immediately halted all services for inspection and restoration.

As for the recovery period, the exchange expects it to last around 7-14 days, stressing that it is “not expected to last less than 7 days.” In addition, “The estimated recovery time will be longer as everything is going.”

After the hack’s announcement, crypto transfers were spotted from Hotbit’s addresses. The exchange claims the transfers were a result of the “ creating a new cold wallet. ”

Cryptocurrency Exchange Hotbit hacked: systems paralyzed, 2 million users affected

The exchange explained that the attacker deleted the user database after not obtaining any assets. It also warned that “The attacker has already gained access to the database,” so users’ registered phone number, email address and asset information may have been leaked.

While it states that the database was backed up, the company says, “We are still not sure whether the attacker has contaminated data or not before the attack,” justifying the need for “an expanded inspection.”

What do you think of this Hotbit hack? Let us know in the comments below.

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