Hotbit Digital Asset Exchange Goes Offline After Alleged Hack

Virtual asset exchange Hotbit has shut down all of its services after an alleged hack attempt on Thursday. A notice on the exchange’s website mentions,

“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.”

The hackers purportedly failed in gaining entrance to Hotbit’s crypto wallets. Nevertheless, they did manage to get entrance to the platform’s user database. Consequently, the exchange’s team has advised users to disregard any communication from entities asserting to be representatives of the digital assets exchange. The Chinese virtual currency exchange mentions that the user’s funds are “SAFU” and that the emergency maintenance might take a couple of weeks.

With all normal operations presently ceased during the current maintenance, the exchange also divulged that the outstanding trading orders are canceled to stop losses. As per the Hotbit announcement, the maintenance will last for a minimum of 7days with reports that the inquiry and system upgrade might take about 2 weeks.

Nevertheless, the time given for the maintenance is causing notable disturbance among Hotbit users judging by comments on social media and in the platform’s Telegram channel. Worries over the incident being an exit scam by the Hotbit team are noticeable.