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. With all normal operations currently paused during the ongoing maintenance, …
Bilaxy, a lesser-known cryptocurrency exchange, has confirmed a major hacking incident, reporting the losses of funds due to an exploit of the platform’s ERC-20 hot wallet. Bilaxy announced on its Telegram channel that the crypto exchange suffered a “serious hack” on Saturday between 6 pm and 7 pm UTC, resulting in the transfer of 295 different ERC-20 tokens. According to the exchange, the affected tokens were transferred by the hacker to a single address. At the time of writing, the tokens are valued at $170,600, with the most recent transaction sending out 50 Ether (ETH), or about $159,000, on Monday. …
The trustee of hacked, now-defunct cryptocurrency exchange Mt. Gox has posted another update on the long-running process of refunding the exchange clients. Nobuaki Kobayashi, a Tokyo attorney appointed to act as civil rehabilitation trustee to manage Mt. Gox’s bankruptcy estate funds, announced Thursday that the Tokyo District Court ordered that “There were no grounds for disapproving the draft rehabilitation plan.” As previously reported, the plan was filed on Dec. 15, 2020. According to the announcement, the court has approved a repayment process schedule that includes a vote by creditors on the proposed refund plan. As part of the process, the …
On Dec. 15, Mt. Gox’s trustee Nobuaki Kobayashi filed a draft rehabilitation plan to refund Mt. Gox users. According to an official announcement posted on Mt. Gox website, the Tokyo District Court and an examiner will review the draft rehabilitation plan and determine whether to proceed with the rehabilitation proceedings as part of the draft rehabilitation plan. The move comes shortly after Kobayashi received another approval to extend the deadline for submitting a rehabilitation plan in October 2020. As reported, the Tokyo District Court extended the deadline until Dec. 15, 2020. Kobayashi previously obtained a number of similar deadline extensions …
Changpeng Zhao, the co-founder and CEO of cryptocurrency exchange Binance, suggested that for most, keeping crypto assets on an exchange is safer than keeping the keys themselves. Zhao gave his comments in a tweet on Jan. 19 after famous crypto skeptic and gold bug Peter Schiff complained that he lost access to his Bitcoin (BTC). Invoking the phrase “SAFU” — a slanger term in the crypto community for “safe,” Zhao said: “Many hardcore crypto [organizations] advocate storing your own keys. But the truth is, today most people are not able to secure a key even from themselves (losing it). A …