Altsbit Crypto Exchange to Shut Down in May 2020

Hey ninja’s, how’s the trading going? The largest cryptocurrency is trading below $10k once again just after crossing over. At press time, Bitcoin is trading at $9,910 and is reporting 1.89% daily losses. 

Small scale Italian cryptocurrency exchange Altsbit is set to close down in the month of May 2020 after losing a significant amount of cryptocurrency to a hack on the 5th of February. The incident was first reported on the 6th of February on Twitter and the firm also released withdrawal instructions on the 9th of February. 

Even though a significant amount of the firm's cryptocurrency is stored in cold storage the firm will still be shutting down all operations in May. Altsbit promised refunds to all its affected customers using its cryptocurrencies in cold storage. Noting that refunds will begin on the 10th of February and will be ending on the 8th of May after this date customers will no longer be able to request refunds. 

For a small scale, crypto exchange Alsbit lost a significant amount of funds, according to the firm’s released statement, after the hack the firm lost 6.929 Bitcoin (BTC) and 23 Ethereum (ETH) among other losses in Pirate Chain (ARRR, VersusCoin ( VRSC) and Komodo (KMD). At press time the total amount of funds lost in the hack is $70,000.   

Don’t always forget to holla at Ninja Discord anytime to talk about cryptocurrency. You can as well check out our exclusive Ninja coin giveaways and Trading View analysis.   


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