Bitcoin

Altsbit loses 6 929 BTC in a hack

February 13, 2020 by Victor

The crypto-Italian stock exchange Altsbit will close its doors at the end of the hacking of its platform.

The end of the race for the small Italian stock exchange

The crypto-platform Italian Altsbit was forced to abandon its operations after having lost almost all of its working capital in a hacking on a large scale.
The crypto-startup who has lost bitcoins, of ethers and other assets in the majority, will have to reimburse its users prior to its closure, which is scheduled for may 8, 2020.

“The refunds will begin on February 10, 2020 and will end on may 8, 2020, after this date, it will not be possible to request a refund because the platform Altsbit will be closed,” cites the publication.

$ 70,000 of stolen assets

The total value of losses Altsbit would have represented a total of almost $ 70,000. According to the information of the Italian society, what are the BTC and ETH, which constituted the major part of this fund.
On the other hand, hacking this registers as a minor theft for the market as a whole cryptomonnaies. Actually, nearly 11 hacks crypto-platforms have been identified in the ecosystem of digital assets in 2019 to 292 million loss while the largest theft in the history of the crypto-currency remains the piracy of Coincheck, which has lost more than $ 500 million in 2018.
What do you think of this announcement of Altsbit to withdraw from the market after its hacking ? Do you think that it is always safe to store their assets on crypto-exchanges ? Give your opinion in the comments section.
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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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