Cryptocurrency exchange Altsbit is shutting down this May. The exchange made the announcement after reporting an alleged security breach earlier this month.<\/p>\n
In a statement, Altsbit says a hack late last week led to the theft of nearly all of the exchanges Ethereum (ETH), Bitcoin (BTC), VersusCoin (VRSC), Komodo (KMD) and Pirate Chain (ARRR) holdings.<\/p>\n
Unfortunately, we have to notify you with the fact that our exchange was hacked during the night, and almost all funds from BTC, ETH, ARRR, and VRSC were stolen. A small part of the funds are safe on cold wallets.<\/p>\n
Altsbit says the hackers took roughly 6.929 BTC, 2.321 ETH, 3,924,082 ARRR, 414,154 VRSC and 1,066 KMD. The total amount of ETH and BTC lost was less than $70,000 and reportedly dealt a lethal blow to the nascent exchange.<\/p>\n
The cryptocurrency exchange says affected users should apply for partial refunds and that remaining funds will be used to refund users until May 8th.<\/p>\n
The company further advises users to be wary of anyone pretending to be Altsbit employees who are allegedly distributing refunds.<\/p>\n
Just last year, hackers bagged approximately $282,617,000 in leading cryptocurrencies, including Bitcoin, Ethereum, XRP, Litecoin and Bitcoin Cash, from a wide variety of crypto exchanges.<\/p>\n
Featured Image: Shutterstock\/yGorodenkoff<\/p>\n
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