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Detail Analysis

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Date:

Status:

Incident Count:

February 5, 2020

Verified

1

Contributor:

zerofriction.io

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KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

72,500,000

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Recovered Amount:

-

Currency:

Dollars, ARRR, VRSC, KMD, BTC, ETH

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Exchange

Assets

Poor Key Management

Extended Method:

Private key leak, hot wallet, Lulzsec hacking group

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The Italian cryptocurrency exchange Altsbit was hacked. As of now, the value of stolen Bitcoin and Ether is about $72.5M U.S. dollars mostly in BTC, ETH, ARRR, KMD and VRSC from its hot wallet. A small part of the funds are safe on cold wallets. Black-hat hacking group LulzSec appears to have claimed responsibility for the theft on its Twitter feed, saying: "We assure that @altsbit didn't had (sic) proper security to stop Lulz Canon. Many others to follow. Better Stack up the Security - Note to other Exchanges."

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Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.