Cryptocurrency Exchange Hotbit Has Been Hacked

Cryptocurrency Exchange Hotbit Has Been Hacked
  • Hotbit has undergone a serious cyber attack
  • Hotbit showdowns all its services
  • Users are in fear due to the incident of the Turkish exchange

On April 29, 2021, a cyberattack took place on Hotbit, the cryptocurrency exchange. However, the system hacking led to the paralyzation of many basic services of Hotbit. Due to this, the exchange has shut down all its services.

Added to this, Hotbit announced that the attackers tried to hack into Hotbit’s wallets. But the risk control system of Hotbit identified and stopped the attempt in order to save the wallet. The exchange transferred the fund in the hot wallet to the cold wallet.

For the safety and security of the customer, the exchange announced, 

” Hotbit team has shut down all services for inspection and restoration immediately”

Moreover, the exchange expects the recovery period might take about 7- 14 days but stated that it will not be less than 7 days. However, the attacker deleted the user database. The attacker has already gained access to the database so the registered phone number, email address, and asset data of the users will be leaked. Fear over the incident being an exit scam by the Hotbit team is palpable.

Moreover, Hotbit was founded by a global team of professionals. It has more than 2 million users worldwide. The work of Hotbit is to find the people who want to trade the same trading pair that you do. Hotbit boasts to have high liquidity, in Hotbit will there be no difficulties to make the common transactions. 

Likewise, the crypto exchange of Turkish is Thodex has stopped functioning without any intimation.  

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.