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Bitcoin Exchange HitBTC freezes customer accounts

Bitcoin Exchange HitBTC freezes customer accounts  - hitbtc freeze

The Bitcoin Exchange HitBTC has frozen its customers' accounts, according to several sources, just before the annual proof-of-key event.

On December 31, 2018, the company responded to a public complaint on Reddit in which a user had accused them of suspending their claims for payment. Redditor PEDXS said he had dutifully passed the Know Your Customer test after waiting six months for his HitBTC trading account. He said that he had withdrawn a large part of his money. But he still has some leftover day trading on his HitBTC account.

“After months of sending over 40 emails, HitBTC has finally re-activated my account,” PEDXS said in his complaint. “I immediately withdrew most of my funds, but left a small amount for day trading. I did that because HitBTC promised that “no further automated restrictions will be applied.”

Another redactor with the pseudonym LOOKATMYIQ confirmed that he too could not deduct his funds from HitBTC. Excerpts from his complaint:

“I filed all my documents / evidence for KYC a few days ago and now the support is not responding at all. Was I cheated? I've been trading Krypto on all types of Bitcoin exchanges for years, and my funds have never been blocked without warning. At first the HitBTC support was still quick to answer. But since I gave them all the information they asked for, they just disappeared. “

A redditor posting as a representative of HitBTC gathered these comments and promised immediate action for the affected users.

User accounts frozen before the proof of keys event at HitBTC

PEDXS thinks that HitBTC is deliberately blocking user accounts because they fear massive deduction of deposits due to the annual proof of keys event.

Proof of Keys is a movement created by renowned bitcoin investor Trace Mayer. This calls on Bitcoin investors to withdraw their funds, which are deposited with a third party on 3 January. The goal is to hold all these third parties accountable by checking their solvency. The move is a way to see if crypto-exchanges actually hold the money that investors have deposited.

“Thanks to daytrading, I've been able to add value to bitcoins over the last few months,” complained PEDXS. “As the proof of key's deadline approached, I felt that HitBTC was the most likely candidate for bankruptcy. That's why I tried to deduct my bitcoins. They then blocked the withdrawal and locked my account. “

HitBTC was a company that started out as a promising Bitcoin exchange. In 2016 and 2017 she was lucky with the big crypto wave. However, the stock market was definitely unable to keep up with innovation and user demands, “wrote tester Harsh Agrawal. “They barely survive. This can have a big impact on users who use HitBTC as a crypto exchange. “

Bitcoin Exchange HitBTC freezes customer accounts  - Source: Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-boerse-HitBTC-friert-kundenkonten-ein/

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