SlowMist Raises Public Alert After No Reply From HitBTC

SlowMist Issues Public Security Alert Over HitBTC Non-Response

Blockchain security firm SlowMist has issued a public security alert after failing to receive a response from cryptocurrency exchange HitBTC. The firm identified a potential critical vulnerability and reached out via direct messages under responsible disclosure guidelines but has yet to receive any reply. This lack of response prompted the public disclosure to ensure transparency and safeguard user funds.

The alert was posted on X, with SlowMist urging HitBTC to contact them promptly to coordinate next steps. The firm emphasized the need for urgency and highlighted the potential risks to user funds. The disclosure process followed standard responsible disclosure practices, which recommend a response within two working days.

This is the third such public alert issued by SlowMist in recent weeks. In December 2025, the firm issued similar warnings to Seychelles-registered Azbit and Turkish exchange ICRYPEX Global, both of which failed to acknowledge the security concerns.

Why Did This Happen?

The lack of response from HitBTC highlights ongoing issues in the crypto industry regarding communication and security practices. SlowMist analysts have noted that exchanges often fail to act with the urgency expected from custodians of user funds. The firm's actions reflect a commitment to transparency and user protection, especially when potential risks exist.

HitBTC, founded in 2013 and registered in the British Virgin Islands, has a trading volume of over $110 million in the past 24 hours. It offers over 250 cryptocurrencies and 800 trading pairs. The firm's failure to respond to the security alert has raised questions about its internal security and response procedures.

How Did Markets React?

The public alert by SlowMist has drawn significant attention within the industry. Security experts and observers are now closely monitoring HitBTC's response and any potential mitigation measures. The incident has also underscored the importance of robust security protocols and timely communication in the crypto sector.

SlowMist's 2025 annual security report documented 200 security incidents resulting in losses of approximately $2.935 billion, representing a 46% increase in financial damage compared with the previous year. Exchange-related incidents numbered only 12 but caused staggering losses of up to $1.809 billion.

What Are Analysts Watching Next?

Industry analysts are calling for better disclosure structures and faster response times to enhance trust and accountability. The sophistication of cyber threats is increasing, making collaboration and communication more critical. The incident may accelerate the demand for higher standards in the crypto market.

SlowMist has a history of assisting in freezing or recovering stolen funds through its threat intelligence network. In 2025, the firm helped freeze or recover approximately $19.29 million in stolen funds across 18 major incidents. This track record underscores the firm's commitment to protecting user assets and enhancing security measures.

The ongoing concerns raised by SlowMist highlight the need for continuous improvement in the security and operational practices of crypto exchanges. As the industry evolves, the expectations for custodians of user funds will only increase, emphasizing the importance of transparency and accountability.