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ABET controversial Mandatory Wallet Update v2.0 - UPDATE

By Rafał - 2019-04-04

It has not been 100% proven yet but it is highly possible that Altbet wallet itself is a danger. Probably wallet dev insert code that was sending wallet.dat files to him. That is why first analysys could not find anyhing suspicius, because there where no maligant instructions to execute.

Important update

At POLIS discord channel we can find new informations about ABET hack.
ABET hack polis
ABET has released a mandatory wallet update to version 2.0. The Wallet v2.0 is a great achievement by the team as it was done without calling the necessity to SWAP. The new wallet version is claimed to be much faster, secure and stable. All the minor bugs and known vulnerabilities have been fixed and the latest source code has been installed.
Collateral amount has been increased to 5000 ABET which will be applicable to all MN holders after block 242421 and the reward rework will increase after block 252501. As not everyone will be able to keep up with the sudden change in MN collateral amount, as a compensation ABET has decided to make local instant MN sharing for its community with 0% fees. More details on the same are soon to be announced.
All the users and MN holders are advised to back up their wallets for safety of funds and upgrade to the latest version asap. All the changes, updates and added features of ABET wallet v2.0 can be read in detail here https://altbet.io/go/wallets.
Updated rewards table: https://altbet.io/go/readme
For more information, visit
Of course do not download any ABET wallets at the moment!

Controversy about the update

News about mandatory wallet update comes a bit late because of some controversy in the community about new Altbet wallet. Few users were hacked just after they installed the new wallet version. What’s interesting is that people lost most of their coins such as SINS, GIN, POLIS or 1x2 but not a single ABET coin was stolen. Also, the coins were stolen despite the wallets being encrypted which might just point this towards deed of some insider on the ABET team.
The users whose funds were compromised claimed that they had downloaded the ABET wallet from the official wallet links. Naturally, on most of the discord channels ABET team was accused of plotting the incident and stealing the funds.
Most of the devs in their statement to the community stated that the wallet has a virus and not to install it, without bringing forth any proof to stand their claim. The only coin (team of the coin) that showed sense of professionality in the scenario was Trittium; unlike for example GIN and POLIS which are looked upon as highly professionalized masternode companies but lacked to prove the same. Although, ABET might be legit project with an experienced team and a decorated background, the incident is sure to leave a mark on the minds of existing and new investors.
GIN ann about ABET
GIN first ann about ABET wallet
(UPDATE: This time they were right about the issue with Altbet wallet, but the form of ann (especially by POLIS, GIN changed their ann later, probably they saw that it is not look like as it should) is still, in our opinion, unacceptable. You can not accuse someone without proof or any, even basic research.)
Unlike most of the sources out there, we think that our soul responsibility is to make necessary research and confirm the facts before we publish something. This is the reason we are publishing this today, two days after official ann.
We talked to Peter, Security expert and Defence Lead of Energi coin. Of course, he couldn’t guarantee anything but according to him it is very unlikely that Albet wallet is responsible for the hacks. In his words:
I did a thorough investigation on it. and when I ran the software, it did not write any suspicious files, nor did it scan my filesystem for external wallet.dat files. It did not do any of the things it was accused of doing... Could it mean that it was dormant? yes. Could it mean that it was using some unknown code obfuscation? yes.
It doesn't prove that Altbet is clean (it is not) and had nothing to do with this (more on this later). But if someone with 18 years’ experience can't find anything suspicious and if Trittium, a pool with a lot of coins and wallets (a lot to lose) said that they installed the Altbet wallet and found no issues, it means that something happened which is still out of the light.

Altbet "fake link" and virus

One user posted on the ABET discord chat the link from where he downloaded Altbet wallet. It looks like this:
Altbet link
The above link surely looks like a scam. But what if we download any other wallet from Github? Guess how all other “links” look like:
It is worth mentioning that on this basis the theory about the Altbet site or github hack was created...


Also, there is an alert in new Albet wallet from VirusTotal scan called “malicious.high.ml.score”.
Altbet VirusTotal
Altbet scan, VirusTotal
What and why is it? We got an answer from Peter:
Official jargon: Trapmine ThreatScore is a machine learning-powered malware detection engine developed to identify known and never-before-seen malware. This engine is a part of TRAPMINE Endpoint Detection & Protection Platform. Trapmine combines machine learning, behaviour monitoring and endpoint deception techniques to provide fool-proof defence against malware, exploit attempts, file-less malware, ransomware and other forms of targeted attacks. Windows PE files submitted to VirusTotal will be analysed by Trapmine ML engine and the verdicts will be displayed to VirusTotal users.
Explanation from Peter: A score of Malicious.high.ml means that part of the behaviour or code which has been abused to do evil things in the past (doesn’t mean the code is bad). It isn’t surprising as it's open source, and involves cryptographic algorithms, that are also used in most common ransomware.
I would say, without a stamp of approval trough a code certificate sigining. antivirus has no way to know if the code can be trusted or not or is comming from a legit source, thus it has to result to speculation trough pattern and behavioral recognition. - Peter said.
If you still have doubts about Altbet, we recommend not to download their new wallet as the investment is yours and we can't guarantee anything. But as its already been added in this (we hope) detailed article, Altbet is probably safe and there are at least 10 other reasons why people might have been hacked. Altbet update could probably just be a coincidence which is already costing them the trust of community.


New update from few devs according to current situation, check it below:
Altbet zaWasp update
Here is the article published on medium by PolisBlockchain. You can find something interesting there, but there is still no 100% proof that Altbet wallet is responsible for the hacks. However as we wrote before, if you have ANY doubts, unistall Altbet wallet and move all your coins to new wallets in another PC.

UPDATE 2 - 5.04

Unfortunately there is a high chance that developer of new Altbet wallet (not main Altbet dev) is behind this!
This is still unconfirmed but at this moment we also recommend you to not install new Altbet wallet or if you already installed it move all your coins to other PC. Set up fresh wallets and send your coins there, do not use your old wallet.dat files, and of course encrypt your wallet, use strong passwords!