Hotbit cryptocurrency exchange down, suffers a cyberattack

Hotbit, a cryptocurrency exchange platform, has shut down all services for at least a week as a result of a cyberattack that hampered several of its services on Thursday evening.

 

The cryptocurrency exchange reported that on April 29, 2021, they were subjected to a serious cyber assault, which rendered a range of basic services unavailable.

 

The attackers also attempted to hack into Hotbit’s wallets, but their risk management system detected and stopped them.

 

Despite the fact that the attackers were unable to access any cryptocurrency properties, they were able to wipe Hotbit’s database.

 

Before restoring servers and services, the exchange is looking for any signs of data tampering that may have contaminated any of its regularly backed up data.

 

Hotbit¬† the cryptocurrency exchange, told it’s roughly 2 million registered users from over 210 countries that their cryptocurrency assets were “safe and secure,” with 500,000 of them using the platform’s Android app.

 

Due to the time required to review backup data before beginning the system restoration process, the investigation and recovery process could take between 7 and 14 days.

 

The attackers have obtained access to plain text customer information such as phone numbers, email addresses, and asset data stored in the exchange’s database, according to the exchange.

 

Also read: Beware: Hackboss disguising as hacking tool is a cryptocurrency-stealing malware

 

Customers should be aware of phishing attempts impersonating Hotbit and should contact the company to verify the authenticity of any suspicious messages.

 

Users can update their passwords on other online services where they use the same credentials as a precaution, according to the exchange.

 

Additional information about the affected orders and goods was exchanged in the exchange:

 

  1. Since leveraged ETFs are not appropriate for long-term holding, Hotbit would be liable for any losses incurred by the role holder during the maintenance phase.
  2. To prevent accidental trading losses, the Open Orders on Hotbit will be cancelled when the system is restored.
  3. After the maintenance is done, all everyday routine income distributions (such as investment products, current products, and FIL cloud computing power) will be paid out.

 

Although some Hotbit users have reported seeing unusual transfers from the exchange’s wallets following the attack, Hotbit claims that these are valid transfers to a new cold wallet.