Crypto Exchange HitBTC Rejected Allegations Of Deliberately Freezing Its User Accounts.

Crypto Exchange HitBTC Rejected Allegations Of Deliberately Freezing Its User Accounts.

2019-01-04 | Robin Williams

Crypto Exchange HitBTC Rejected Allegations Of Deliberately Freezing Its User Accounts.

In line with a recent information revealed, Cryptocurrency exchange HitBTC has rejected allegations by a number of the industry’s renowned figures that it had been 'deliberately freezing its user accounts'.

Responding to a request for comment, Peter Swen, a representative from the exchange’s team, denied any link between account freezes and Thursday’s on-progress Proof of Keys event.

After user complaints on social media, Proof of Keys’ organizer Trace Mayer had publically outlined that HitBTC could also be deliberately disabling withdrawals in response to the event. He was afterward joined by others in his suspicion, together with John McAfee, wallet manufacturer Bitfi and bourgeois Tuur Demeester.

Mayer’s Proof of Keys event advocates a mass retreating of all funds from exchanges and other alternative centralized third parties these days, 3rd Jan. The event was reportedly created to market accountable use of decentralised cryptocurrency by users demonstrating their management of their own personal keys.

However, HitBTC hasn’t revealed a public response to the allegations, whereas Swen categorically refused to acknowledge any link between the withdrawal freezes and Proof of Keys, which he delineated as a “flashmob.”

Explaining further, he added:

“These temporary, protective withdrawal freezings are an instantaneous consequence of our international KYC and AML measures. These rules exist and apply to us and everyone, twenty four hours daily, three hundred and sixty five days of the year.”

“Therefore, we don't turn off any security tools or checks, ever. Not on regular days, and not on special days; together with events and flashmobs like Proof of Key Day [3rd Jan.].”

On Twitter, exchange officers were working to counter unease expressed by users once the suspicions were airy. In one message on 2nd Jan., the exchange hinted it might publish an 'official statement' very soon.

Crypto Exchange HitBTC Rejected Allegations Of Deliberately Freezing Its User Accounts.

HitBTC is presently the world’s 14 largest crypto exchange by adjusted daily trading volumes, seeing $208.9 Mln in trades over the past twenty four hours at the reporting time.

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