Review on Altilly by Hasan Abbas
The Altilly exchange will never be the same again
Hello to everyone. Today I will write to you about the Altilly exchange. This exchange was created in 2018 in Sweden. At the time of its creation, the exchange was able to gain a good customer community by doing crypto activities. Everything was fine with the stock exchange, and the customers were happy with the services of the exchange. I had also traded at Altilly several times, and the transaction fees were very low.
But in the last days of 2020, there was a cyberattack on the exchange, when the thieves broke through the security of the exchange and pulled a lot of money from the exchange's funds. With this incident, the exchange went bankrupt. According to the executives, the exchange could not have insurance due to the very low transaction fees in the exchange. But I don't think that's a reason. Having a big gap in Security brought the end of the exchange closer.
After the exchange went bankrupt, customers also rightly wanted their money back, but the exchange officials made a statement saying they would return all of their money as soon as possible. Customers are also bothered about their credentials, but according to the information I received, the exchange did not keep any identity information hidden, all of them were deleted after the transaction.
According to my other research on the exchange, the Altilly exchange wants to return, but I think that would not be the right step at all. Because once the trust of the exchange among people dropped so much, I don't think people will be able to trust the exchange again. That's all I have to write for now, thanks for reading my review.
Pros
- nothing good as this crypto exchange is no longer available
Cons
- Thanks to the loophole in the security system of the crypto exchange in late 2020, this exchange was hacked and all customers' money was stolen.
- yet unable to repay customers' money because the exchange went bankrupt
- According to the executives, the exchange could not have insurance due to the very low transaction fees.
