Reddit user posts warning about HitBTC not allowing withdrawals

01 Jan, 2019
Reddit user posts warning about HitBTC not allowing withdrawals

A Reddit user has warned users that cryptocurrency exchange HitBTC has blocked his withdrawals after previously unfreezing his account and passing know your customer (KYC) on the exchange. 

The Reddit user explains that their account had previously been forezen by HitBTC, and following several months and over 40 emails, the exchange finally unfroze the users account. 

The user then withdrew most of their funds and traded on the exchange with reserve funds. The user then notes "I have built back my balance up to a couple BTC. With the proof of key date approaching, I felt that HITBTC is the prime suspect for being insolvent, so I tried withdrawing my BTC. Guess what, they blocked the withdrawal and froze my account again."

Sentiment on Reddit appears to mimic the user with regards to the legitimacy of HitBTC, with most calling the exchange a scam. 

Image from Gyazo

Image from Gyazo

Image from Gyazo

It also appears users on Twitter are having issues with their withdrawals. Could HitBTC be heading for insolvency?

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Read more about: HitBTC


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