Altsbit exchange hacked, all Bitcoin and Ethereum stolen

altsbit hack

Altsbit is no Binance in terms of volume but it is listed on popular cryptocurrency tracking websites, except coinmarketcap. Yesterday, Altsbit made an announcement on their twitter that their exchange was hacked during the night.

Here is their tweet.

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 then added that they are now analyzing the amount of loss and technical issues of the hack but no details are currently available. Almost all bitcoin and ethereum were stolen from the cryptocurrency exchange. Other cryptocurrencies that were affected in this hack was Komodo (KMD), ARRR (Private) and VRSC.

They have have completed calculations on Komodo (KMD) coin and there seems to be a loss of 1066 coins out of 48015, therefore 46949 will be returned to users.

They are still looking into the cause of this attack and in the meantime they are also counting the damage.

This is a preliminary calculation for VERUS token and they have verified that it was also affected in the hack, there was a loss of 283373 out of 719000 coins.

It shall be noted that while Altsbit has been added to coinmarketcap, its data is not added so Coinmarketcap’s API does not fetch any data from Altsbit exchange.

It is interesting to see only a small part of the funds were stored in cold wallets while the majority was stored in hot wallets.

Once again, we urge users not to store their coins and tokens on cryptocurrency exchanges. Not your keys, not your coins.