On June 17, 2020, an exploit was made against how we handle ETH contract deposits. This allowed a user to trick our systems into thinking valid funds were deposited, when in fact, they were transactions that would later become invalid. Multiple deposits were made, and bets were placed with these funds. We have since patched the exploit, so this will not occur again.

The exploit involved many transactions, the majority of the coins were "deposited" with this transaction.

In total, investors received 12.35 ETH in profits, less 0.85 ETH in commissions. A net profit of 11.50 ETH from the fraudulent deposits.

We have rolled back the bets placed with the fraudulent funds and adjusted investor balances accordingly.

Bitvest itself made a small loss from funds that were withdrawn from our wallets. We will be covering this part of the loss out of our pockets.

No user or investor funds are at risk or were ever at risk due to this exploit. It was caught quickly, and the losses mitigated before any losses exceeding the size of our hot wallets occurred.