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Trcae Mayer alleges HitBTC of freezing user funds

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HitBTC, the cryptocurrency exchange has not responded to allegations which claim that it intentionally froze withdrawals from accounts on January 1, just a few days prior to Proof of Keys event of Trace Mayer.

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Through a series of tweets, Mayer joined with some leading names pf crypto industry such as Joh McAfee expressing concern about the state of HItBTC as users reported being unable to withdraw funds from the exchange.

Commenting on Twitter and Reddit many have pointed out to events of past when exchange froze withdrawals noting this particular incident might not be deliberate.

Announcing the Proof of Keys event last month, Mayer asked cryptocurrency investors to move their funds out of third-party control in order to keep them in their private control.

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Arguing on his stand he said, it’ll educate investor in holding their own reserves without the support of any third-party, contributing to the spirit of Bitcoin and its mass adoption.

Tweeting he wrote, “Has (HitBTC) failed (Proof of Keys)?” adding “I do not have an account. Asked a friend to initiate a withdrawal. BEWARE!… Result: ‘Withdrawals are temporarily disabled on your account.’”

As of press time, HitBTC is yet to respond to the allegations.

Meanwhile, many have added their remarks on the controversy through social media.

Last September, McAfee expressing his concerns on HitBTC tweeted, “I warned everyonw [sic] more than a dozen times. Don’t sign up. Don’t use it,” adding to it he said, “Withdtaw (sic) your funds. I was trashed for calling out HitBT [sic] as a corrupt cimpany [sic]. Tough sh*t. You had six months warning from me to withdraw your funds. Do not ask me to help you now.”

The cryptocurrency wallet manufacturer, Bitfi which is endorsed by McAfee also faced public allegation in past raised questions on HitBTCcliaming that they are stealing funds from its users.

A few users took on Reddit to express their concerns. One user wrote about locked funds after submitting KYC requirements. Here a support person form HitBTC reached out asking for a support ticket number. The poster here declined and decided to go through the official support channel instead.

Photo Courtesy – Finance Magnates

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