Altsbit Crypto Exchange robbed of “almost all funds”

The Italian cryptocurreny exchange platform Altsbit announced on Thursday that it was hacked and subsequently “almost all funds” were lost from their BTC, ETH, ARRR and VRSC wallets. The only funds remaining were in cold storage where private keys are stored on devices that exist in an offline environment.

In following updates, Altsbit gave some more details about what coin reserves were affected but it is yet unclear how much currency was exactly stolen - upcoming statements from Altsbit will hopefully clear that up. As of today the current amounts lost have been published by Altsbit: 6,417 Bitcoins, 22,996 ETH, 3,924,082 ARRR and 414,154 VERUS.

In the meantime, the LulzSec twitter account which has been silent for over a year, seemed to have taken responsibility for the hack: “We assure that @altsbit didn't had proper security to stop Lulz Canon. Many others to follow. Better Stack up the Security - Note to othe Exchanges”

Note that this is not the original LulzSec twitter account (which had over a million followers and was suspended, renamed and later deleted). The current account holding that name is an old Twitter account registered in 2011 and it was renamed after the original LulzSec account got deleted and the name freed.

While we have reliable knowledge that this account is not run by the original LulzSec staff, there is evidence for a certain connection emerging that we are currently investigating. We can't say much at this point other than the posted tweets related to this incident matches up with the evidence and implicates a certain individual. We will post more definite information on this once we are certain that all the dots connect up - stay tuned.

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