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Author Topic: New bullrun - new hacks and victims  (Read 44 times)

MrSpasybo

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New bullrun - new hacks and victims
« on: May 05, 2021, 01:07:40 AM »
Cryptocurrency exchange platform Hotbit has shut down all of its services after an attempted cyberattack on Thursday.

“Hotbit just suffered a serious cyber-attack starting around 08:00 PM UTC, April 29, 2021, which led to the paralyzation of a number of some basic services,” a notice on the platform’s website reads.

The hackers were reportedly unsuccessful in gaining access to Hotbit’s wallets but did manage to compromise the platform’s user database. Thus, the Hotbit team has advised customers to disregard any communication from entities claiming to be representatives of the exchange.

Fears over the incident being an exit scam by the Hotbit team are palpable.


Source: Hotbit crypto exchange shuts down for maintenance after attempted hack

Perhaps we are all too familiar with the events of hackers in 2020 & 2021, when many DeFi projects were launched in a hurry with a lot of smart contract errors. However, it has been a while since we saw an exchange get hacked. The last time I remember is an event involving Binance & KuCoin. And this time it's Hotbit, a massive exchange with 2 million users.

This once again reminds us of security in crypto sector, because in addition to DeFi protocols, crypto exchange is the place to store the most assets. I used to think that crypto wallets on exchanges are a safe option because they are protected by large companies, the 2FA solution also makes the exchange wallets safer than wallets on other websites like MEW, MetaMask, but this fact made me realize many things. Now I understand why many people are willing to use DEX with higher transaction fees than exchanges. Perhaps the best way to protect assets is to keep them in personal wallets.

I myself have just transferred the QCX token to Hotbit, but currently I cannot access Hotbit website and my account. To be honest, I'm quite worried.

Are you using Hotbit? Are you worried about the fate of your crypto assets? Is this a Hotbit scam exit event? What solution do you think will help keep the exchange safe from hackers?
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