MistTrack experts revealed that the fake platform uses three ways to steal digital assets from users

​Hackers steal more than $15 million in cryptocurrencies through the fake HitBTC exchange’s website

15.05.2023 - 16:30

259

3 min

What’s new? The team of the tracking platform MistTrack reported that hackers managed to withdraw more than $15 million in BTC, ETH, USDT stablecoins, and other cryptocurrencies through the fake HitBTC exchange’s website. The experts also published the addresses of the attackers. Some of them were first involved in the scheme last June, and some of the wallets remain active until now.

How does asset theft happen? Experts said that the fake platform uses three ways to steal digital assets from users:

  • If the wallet connection is approved, scammers get unlimited access to assets in USDT;
  • Similar to a real exchange, the site offers to deposit to the hackers’ address (the feature supports BTC, ETH, and TRON);
  • Like many phishing sites, a digital signature box pops up automatically, and when the user clicks the “Confirm” button, they lose all assets in Ethereum.

What is known about HitBTC? It is a centralized cryptocurrency exchange (CEX) founded in 2013 in Hong Kong. Spot and margin trading as well as futures contracts are available on the platform. As of May 15, HitBTC has 512 coins and 1110 trading pairs available, with a daily trading volume of $429 million.

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Earlier, KuCoin customers lost more than $22 000 as a result of the hacking of the exchange’s Twitter account. Representatives of the exchange promised to compensate for all of the confirmed losses.

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