HotBit exchange stealing MINE from users

I’m not sure if this is the right place to come to, but I’ve witnessed that there’s an exchange that lists MINE and is, I believe, stealing coins from users (both MINE and LUNA).

The Background
HotBit is listed as an exchange that contributes to Coinmarketcap’s price calculations (https
://coinmarketcap.com/currencies/pylon-protocol/) for MINE. I recently sent coins to the exchange to try to test an arbitrage opportunity. Like any other exchange, I deposited MINE to an address the exchange provided to me (deposit transaction hash). But the funds never arrived.

When I contacted customer support, I was directed to this page: https ://hotbit.zendesk.com/hc/en-us/articles/4409736889239
TL:DR: They stopped accepting MINE and LUNA withdrawals/deposits as of Sept. 30. My transaction was on Oct. 31 to an address they provided me on Oct. 31.

However, today I discovered that the address I was given to send the MINE to has since moved the MINE to a new address. Here’s the transaction: Terra Finder.

The address it was moved to is one with many other LUNA and MINE inflows, but very few outflows.

Why Am I Posting?
It’s my belief this exchange is allowing users to deposit LUNA and MINE and then stealing these coins, using the Sept. 30 notice as cover to throw their hands up and say “oh well.”

I figured this is the right forum to come to in order to suggest that the Pylon community find a way to prevent HotBit from being able to continue stealing coins from unsuspecting MINE holders. I don;t know what that looks like, be it some sort of community pressure, or perhaps restricting their terra wallet, or whatever it may be.

Whether this is something the community can, or even wants to, act upon, I don’t know. But I wanted to inform you all of it in case it can, and does want to.

NOTE: I’m restricted from posting more than two links in my post, but I believe they’re all relevant. So, I’m circumventing that by adding spaces after “http” (just remove the spaces to see the link).

2 Likes

Report the exchange to the regulator. Seems pretty malicious to leave the deposit link live for 1+ months after discontinuing support