HitBTC Users Are Outraged At Withdrawal Blocking
Digital exchange HitBTC reportedly froze the withdrawal function and neglects requests from its customers, a few users complained on Reddit.
One of the affected traders, under the nickname PEDXS, on December 31 accused the exchange of ignoring requests for bitcoins withdrawal. Suspecting HitBTC of insolvency, he decided to take away the funds from his account, but the exchange’s administration blocked the withdrawal and froze his account. However, PEDXS has passed KYC verification, and the platform, in turn, guaranteed there would be no restrictions on withdrawals.
When he posted his complaint on Reddit, the trader’s account had been frozen for more than 10 days. There was no feedback — HitBTC responded to his requests in standard letters, after which PEDXS publicly warned the other users that, probably, the exchange just did not have the necessary funds for payments.
On January 1, a HitBTC representative responded to the trader, asking to provide a ticket number to the support service.
It is noteworthy that the incidents occurred just before the Proof of Keys action, scheduled for January 3. Its author, a crypto investor and author of podcasts about bitcoin, Trace Mayer, suggested that users withdraw funds from the platform and make sure that they are the real owners of their bitcoins, not third parties represented by the management of the exchanges.
Has @hitbtc failed #ProofOfKeys? I do not have an account. Asked a friend to initiate a withdrawal. BEWARE!— Trace Mayer [Jan/3➞₿∎] (@TraceMayer) 2 января 2019 г.
Result: "Withdrawals are temporarily disabled on your account."https://t.co/J3HMHKA1ah@maxkeiser @ToneVays @theonevortex @SatoshiLite @Excellion @CaitlinLong_ @nvk pic.twitter.com/wsXKiOlEJF
Later, Mayer also confirmed that HitBTC froze users' accounts. As he wrote on Twitter, when trying to withdraw funds, users get a notification that this function is temporarily unavailable on their accounts. However, no reasons for refusal are specified in the message.
Previously, researchers found that exchanges showed false financial data on pairs with bitcoin.