Hotbit has announced emergency maintenance work following a hacking attempt, but claims that all user funds remain safe.
Consequently, Hotbit accessories has advised consumers to disregard any communication from entities claiming to be representatives of the exchange.
Hotbit has just suffered a serious cyber-attack that began around 08:00 PM, on April 29th of this year, which led to the paralysis of a sequence of certain basic services.
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With each of the typical operations currently on pause throughout the ongoing maintenance, Hotbit additionally revealed that pending trading directives are cancelled to elude losses.
In addition, the exchange promised to take care of any losses arising from funds quoted on its platform throughout the duration of the maintenance.
The maintenance will last for at least 7 days and it has been reported that the system inquiry and upgrade could take up to 2 weeks.
The attacker attempted to break into the wallet server to steal funds, however the action has been identified and successfully blocked by Hotbit's danger control system. All user funds remain safe.
In parallel, Hotbit is in the process of transferring all funds from the hot wallet to the icy wallet, details of the entire addition have the possibility to see in the chain.
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By the way, data from Ethereum's transaction monitoring tool Etherscan presents various token outflows from one of Hotbit's known wallets to another address that currently holds about $14 million in numerous altcoins.
Nonetheless, the duration of the maintenance is causing fundamental unease among Hotbit users to sentence by comments on social media and on the platform's Telegram channel.
The fear that the incident is an exit scam by the Hotbit team is palpable. In early April, 2 relevant exchanges in Turkey went out of business, and their executives escaped with millions of dollars in user funds.
The two incidents have led to relevant arrests by the police, as well as government plans to set up a central defense bank for cryptocurrency exchanges in Turkey.