Hackers Hack Altsbit Cryptocurrency Exchange

Altsbit cryptocurrency exchange initially announced the loss of “almost all funds” as a result of the hack, but then clarified the losses. The site has been operating since 2018.

Dear users,
Unfortunately we have to notify you with the fact that our exchange was hacked during the night and almost all funds from BTC, ETH, ARRR and VRSC were stolen.
A small part of the funds are safe on cold wallets.

— Altsbit (@altsbit) February 6, 2020

Altsbit’s first report of the incident said that a hacked exchange on Wednesday night lost almost all of its assets in Bitcoin, Ethereum, ARRR and VRSC tokens.

Later, the platform was able to more accurately calculate the damage. The exchange reported the loss of:

• 1,066 of 48,015 Komodo coins (KMD);
• 414 154 of 852,726 Verus Tokens (VRSC);
• 3 924 082 ARRR coins out of 9 619 754;
• almost 23 ETH of 32;
• 6.4 BTC of 14.27 held by the exchange.

The site promised to return the remaining funds to customers. Whether Altsbit is going to compensate for the loss of users is unknown.

Based on the current quotes of digital assets, the total damage to the cryptocurrency exchange amounted to a little more than $ 285 thousand.

The average daily trading volume on the site before hacking was $ 20-40 thousand, mainly it was a couple of bitcoins and ARRR tokens of the Pirate Chain project, according to CoinGecko.

Recall that in November last year, the South Korean bitcoin exchange Upbit as a result of hacking lost almost $ 50 million in ETH. In May, hackers stole from Binance more than 7 thousand BTC - over $ 40 million at that time.