Bittrex Spoofed Website Hack GodOfWhatevers

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Bittrex

A Bittrex user reported having $100k in funds withdrawn from their Bittrex account during a suspiciously lengthy login session. This most likely happened due to them visiting the wrong website URL or having malware on their computer to redirect their traffic to the wrong website.

This exchange or platform is based in Liechtenstein, or the incident targeted people primarily in Liechtenstein.

About Bittrex

"Bittrex was founded in 2014 by three cybersecurity engineers. Our goal is to operate a world-class crypto exchange with a focus on trust. With lightning-fast trades, dependable digital wallets and industry-leading security, we've created an exchange our customers can count on." "Bittrex Global is one of the most secure trading platforms in the world. Built on Bittrex’s cutting-edge technology, we provide an institutional grade experience for professional and novice customers alike." "When choosing an exchange, trust matters. That’s why security has been and will always be our top consideration. Our platform was built from the ground up with multiple layers of protection, deploying the most effective and reliable technologies to keep funds and transactions secure."

"Bittrex Global is based in Liechtenstein and Bermuda, placing us in world class financial systems governed by revolutionary legislation. We operate under the framework of the Digital Asset Business Act (DABA) in Bermuda, and within the Transactions Systems Based on Trustworthy Technologies Act (the “Blockchain Act”) in Liechtenstein. Bittrex Global (Liechtenstein) is required to comply with the KYC/AML/CFT standards under the Due Diligence Act and is supervised by the Financial Market Authority (FMA). Bittrex Global (Bermuda) Limited is fully licensed to conduct Digital Asset Business by the Bermuda Monetary Authority (BMA) and is registered in Bermuda under No. 55591."

"So today I went on www.bittrex.com to create an account and deposited roughly 26 BTC and traded them for other coins. Of course before doing this I did the basic verification, phone verification and enhanced verification and the 2FA authentication. I tested everything out and everything seemed fine... Then I logged out at 18:54:27 2 Hours later I come home and try to log in and it says that Bittrex is checking for my browser and that this might take up to 5 minutes. Few minutes later it goes through and asks me for my 2FA which I provide. Again it takes a long time and ends up failing. So I wait a bit and do the whole process again and when I finally log in I notice that everythings gone... All my coins were sold for btc and gone. So I check the history and this is what I see... NEW IP LOGIN UNKNOWN_IP_WITHDRAWAL_APIV1_SUCCESS NEW_IP WITHDRAWAL_APIV1_SUCCESS and then a few mins later I log in... so what happend?"

"Most likely you logged onto a spoofed phishing site, and it sent api calls to the real site to get valid account balance info/etc so it would look normal to you. As soon as you logged off, it sold your shit and sent it to that great wallet in the sky." "The momentary delay during your initial login was them creating the API keys that would later be used to transfer their loot out of the system."

This exchange or platform is based in Liechtenstein, or the incident targeted people primarily in Liechtenstein.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

• Known history of when and how the service was started.
• What problems does the company or service claim to solve?
• What marketing materials were used by the firm or business?
• Audits performed, and excerpts that may have been included.
• Business registration documents shown (fake or legitimate).
• How were people recruited to participate?
• Public warnings and announcements prior to the event.

Don't Include:

• Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
• Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

• When the service was actually started (if different than the "official story").
• Who actually ran a service and their own personal history.
• How the service was structured behind the scenes. (For example, there was no "trading bot".)
• Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - Bittrex Spoofed Website Hack GodOfWhatevers

Date	Event	Description
August 26th, 2017 4:57:02 PM MDT	Main Event	Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.

Total Amount Lost

The total amount lost has been estimated at $100,000 USD.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

General Prevention Policies

Always be sure to access websites using their official URLs. If a login requires an extra steps of 2FA codes, be extremely suspicious.

Platforms should provide additional protection against access/withdrawal from a new IP address or to a new wallet address not previously used. The 2FA system should be more clear on what's being authorized if possible.

Individual Prevention Policies

No specific policies for individual prevention have yet been identified in this case.

For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.

Platform Prevention Policies

Policies for platforms to take to prevent this situation have not yet been selected in this case.

For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.

Regulatory Prevention Policies

No specific regulatory policies have yet been identified in this case.

For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.