HotBit Hacked! What is known at the moment
The topic of digital security is one of the most pressing topics in the modern crypto industry. After all, each of us is interested in our savings not becoming our own criminals. And, moreover, we all worry about the privacy of our own confidential data. However, even the most reliable systems sometimes fail. Something similar happened with the HotBit digital platform. Company representatives announced a possible leak of user data. We’ll take a look at the news, tell you what account holders should do and how to respond to this set of circumstances. So let’s get started.
About the platform
First, let us remind you for those who do not know or have forgotten that HotBit is a fairly young, but already supported platform. In fact, the site saw the big light relatively recently, only in 2018. Official offices are located in Hong Kong and Estonia. This geographical spread allows the company’s representatives to work conveniently around the world. The platform was distinguished by a fairly well-coordinated team, good conditions for cooperation and, oddly enough, security. In many of the reviews, you may have seen the privacy and security of the exchange mentioned as key benefits.
And indeed it is. HotBit is by no means a weak, open source exchange. Not at all. It’s just that the hackers approached the issue in detail and were able to break through all the steps of protection. Let’s figure out exactly how the attack happened and what exactly was affected. This is our next section.
Details of the digital attack
First of all, it should be clarified that the funds of HotBit users are completely safe. The hackers began a gradual attack on the exchange system, but when the built-in protection functionality worked, the system began to inform about the intrusion. And the hackers had no choice but to quickly leave the platform’s servers. The attackers did not have time to get to your money. But before leaving, they were able to steal the database with the contact details of the users. According to preliminary estimates, cybercriminals now have about 2 million personal data available to them. These are phone numbers, email addresses and even passport information. That is, as you can imagine, the attack is really destructive. It is not yet clear how the hackers will use the information. But, quite possibly, attempts will be made to sell the database with data on the relevant sites.
So, if you are a HotBit user, it may be worth getting ready for spam, intrusive calls and other inconveniences in the near future. For which, it should be noted, the company apologizes. The representatives of the organization completely take the blame and are already carrying out thorough technical work. The specialists have to find out how much damage the exchange system has suffered. According to the most conservative estimates, such an investigation will take from one to two weeks. Orders opened during the maintenance period will be canceled. Therefore, you need to calculate the time when the transaction can be carried out without the threat of cancellation. Any transactions in ETF commodities that caused users to suffer losses will also be compensated.
Responsible attitude of developers to their own mistakes shows the seriousness of their intentions and the status of the company. However, this does not change the fact that HotBit has obvious security issues. Which the company will decide. So that similar situations do not recur in the future. Follow the crypto industry news with us. We publish only high-quality, interesting material. Thanks for attention. Good luck!