Italian crypto exchange shuts down after hacker attack

Feb 10, 2020

Unfortunately, crypto exchanges being exposed to hacker attacks from criminals who are looking to steal money is unfortunately not uncommon in the crypto world.

At the end of last year, for example, Trijo News was able to report that hackers stole a large amount of ethereum from the South Korean crypto exchange Upbit.

Allegedly stole over $70,000

Now another crypto exchange has been hit by a hacker attack. This time, the affected exchange will be closed, Cointelegraph reports.

The crypto exchange in question is called Altsbit and is based in Italy. In the attack, the hackers allegedly stole the equivalent of over $70,000 in bitcoin, ethereum, and other smaller cryptocurrencies.

Customers get their money back

Although Altsbit securely stores a larger amount of cryptocurrencies in a so-called “cold wallet”, they are now choosing to close down.

People who lost money after the hacker attack will be repaid to the extent possible with the money remaining, Cointelegraph writes.

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