Recovery of mistakenly sent cross-currency deposits

Dear traders,

One of the most prominent features of crypto assets’ practices is their immutability. Provided that only you are in charge and in control of your funds, it’s vital to track thoroughly your crypto payments, foreclosing the probability of mistakes taking place, because they cannot be reversed. For example, sending one currency to another’s address could lead to your funds being lost forever.

We are pleased to state that in the significant part of such cases we are able to help.  Make an acquaintance with our course of action which is being taken in on such occasions. It requires a certain amount of manual-like labour with top-level security clearance, as the direct access to user’s private keys is implied. As the outcome stands the fact that some types of cross-currency deposits on HitBTC can be fixed, but not all of them.

Please keep in mind that Bitcoin Cash, mistakenly sent to Bitcoin address formed after SegWit activation (starting with 3), could be lost forever before we manage to recover them. Due to recently revealed BCH network vulnerability these funds can be claimed by anyone under certain conditions, without the access to receiver’s private key. Here’s one of the examples of a whole set of BCH transfers, made to BTC addresses, being spent by one person, eventually 600k USD equivalent ended up being abducted.

Overall crypto network traits and the resulting consequences sometimes could not be helped. The only way to protect your funds from the mentioned network-wide vulnerability is not to make mistakes while performing payments, and that applies to making deposits on HitBTC as well.

Regards,

Paola Balzano

HitBTC Support Team