Australian cryptocurrency exchange Coinspot has allegedly suffered a hot wallet hack, resulting in the loss of an undisclosed amount of cryptocurrency. The report suggests that the hackers exploited a vulnerability in the exchange's hot wallet system, which allowed them to access and transfer funds from the exchange's hot wallets to their own wallets. Hot wallets are typically used for storing and managing cryptocurrency that is actively being traded or used. They are typically connected to the internet, which makes them more vulnerable to hacking attacks than cold wallets, which are stored offline.