HitBTC the next exchange to become insolvent customers not able to withdraw fund

barbara44

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Quote from: Sexaphiliac on August 28, 2019, 02:01:49 AM

I really do not like the exchange and I'm sure it's not just me. I signed up on the exchange and activated 2FA. Even with that I still get email notifications that my account has been logged into. I wouldn't be surprised if eventually the exit scam. Their security is poor so they are even bery likely to be hacked also.

We really have to be cautious of the exchange that we pick interest in, although this exchange started well, but I don’t know the reason for the problem they are having, this is also a big exchange and I would not be sure if they lack the profit to run the exchange smoothly r they lack expertise hands.

I stopped using them also when I discovered some of those lapses in them, and I am sure that before it go to the stage of op, they must have been showing some signs that he just did not pay much attention to, if he had paid attention to them, then he would have moved over to some other better exchanges like kucoin, coinbase, binance and maybe Bittrex, those have served their clients well ever since they were created and I am sure that they will not fail now.

coin-investor

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Quote from: bitbunnny on August 28, 2019, 02:09:42 AM

Unfortunately they are not the first or the last exchange with such destiny. That is why it's very important to be careful about investing funds with them. Usualy when I spot the first signs of problems and something that is suspicious to me I leave such exchange and don't use it anymore.
I wouldn't be surprised if I read one day here how users lost their funds with that exchange.

They used to be one of the best exchange in the market, that is when Binance is not yet launching, they cannot keep up and these new exchanges are beating them, although they have a lot of advertisement, they failed to attract traders to use their platform.

I immediately withdraw all my funds and trade all my funds at a loss, when I first saw the sign that they are not living to everyone expectation,
I feel sorry that it has to go this way because I traded in their platform so many times, at least there are still big exchanges in the market like Binance, Kucoin and livecoin.

Strongkored

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I do not know whether HitBTC will forever keep user funds without returning to give the opportunity to complete KYC or not, if not then HitBTC is very unfair.
My funds have been stuck on another exchange for more than 2 months because verification is always pending but when the verification is complete I can wd my funds right away and finally decide not to use that exchange.
HitBTC should not provide a time limit for users to complete their KYC and also gives users the choice to be able to withdraw their funds if they object to KYC (and this can be applied to old users).

bitbunnny

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Unfortunately they are not the first or the last exchange with such destiny. That is why it's very important to be careful about investing funds with them. Usualy when I spot the first signs of problems and something that is suspicious to me I leave such exchange and don't use it anymore.
I wouldn't be surprised if I read one day here how users lost their funds with that exchange.

Sexaphiliac

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I really do not like the exchange and I'm sure it's not just me. I signed up on the exchange and activated 2FA. Even with that I still get email notifications that my account has been logged into. I wouldn't be surprised if eventually the exit scam. Their security is poor so they are even bery likely to be hacked also.

elisabetheva

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When there was a lot of noise about HitBTC holding back and long transactions, I also experienced and traced and was hampered because of the many transactions at the time and the fees seemed too small. finally be able to be patient and report according to the rules they make, although slow but can be resolved properly. but now even though it's still active I have never used it again, so I don't know the current situation.

Mulann2

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All i have ever heard about Hitbtc is negative remarks from people who have used it, a project am following mention they are looking into negotiating with Hitbtc and all the community members went ballistic with the idea,
many were against it, making all sort of claim about the exchange not been trustworthy, and many customer has unresolved transaction issues and so forth, i don't need a soothsayer to tell me this exchange is a no no.

Genamant

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Quote from: rdbase on May 19, 2019, 12:00:28 PM

Heard about this rather well known exchange among the cryptocurrency exchange having issues with settling customers requests to process their withdrawals a few weeks ago.
https://ambcrypto.com/hitbtc-is-insolvent-claim-customers-facing-trouble-withdrawing-funds-for-several-weeks
Didnt think much of it and thought it would just clear itself up eventually.

But then reading about an article just posted today about them asking full kyc or they will keep any customers funds.
https://www.ccn.com/hitbtc-users-shout-fraud-kyc

So they are holding any cryptocurrency a customer has in their accounts hostage for those who do not comply?
Is this acceptable and have other exchanges done this in the past without giving a time frame to be able withdraw your funds if you do not want to go through the process of verifying your exchange account this way?

Eversince my friends account on HITBTC was hacked back early 2018 , we decided to withdraw all our funds and abandoned this exchange for good.

romero121

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To what extent this is going to be true is completely unknown. From my experience with hitbtc exchange I've never got into any of the issues. The thread was started on 19th of this month. I made a withdrawal on 22nd and no issues were encountered. The fund got reflected on the wallet in a short and within few minutes time the transaction got confirmed.

bitcoinposts

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Hitbtc is having issues for ver long time but now due to market slow down hitbtc got efforted very badly we should wait for some more days whether hitbtc coming back or nt

thesmallgod

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This is exact reason why some people are in support of DEX platform. How will you decide to wanna hold someone asset just because the deadline for a particular rules has passed. This is very unfair. I have used hitbtc in the past and I didn't have any problem with them but I stop using them due the fact that token trading ratio they use is not good for me. Hitbtc unlike binance doesn't send update to users via e-mail so if you are type that doesn't follows their twitter and other social pages, you may have problem such as this.

aad140386

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Unfortunately, everything goes to the fact that on the exchanges terebovaniya to customers will be tightened. It will be necessary to provide more documents and in extreme cases even prove the origin of the funds. I think this will be a trend in the next few years. Many large exchanges want to operate in accordance with the laws of the countries in which they are located. Most likely this can be explained by the pressure of regulators from different countries on the stock exchange.

Natalim

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So this news happens to be more alarming compared to the recent Binance hack?

I won't easily believe that they are going to be insolvent because it was just 2 complaints from their thousands of clients.
I can give my opinion based on my experience, thus far, I never face any problem with hitbtc, I was not required to comply with a KYC or whatsoever.

Been hearing the feedback of the people about this site that it's shady, but I still used it because none of my problem remained unsolved.

okala

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HitBTC among other exchanges are taking measures to stop scams and hack on they exchange just like what we recently witnessed with binance hack were unknown hackers break into the cold wallet and stealing huge number of bitcoin but with KYC those behind it can be traced.

LuckyBtc

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I have used HitBTC only once, It gave scammy vibes even back when I used it now even so more. There several exchanges that are better than HitBTC, I don't understand why people use/used it. They list shittiest of the shit coins.

vennali

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They had a similar issue about an year and a half back when they block withdrawals. They were stuck on processing. It got solved after about a week with no update from Hitbtc. There was also a group on telegram for the same which had about 500 people complaining. It was a relief when they reenabled withdrawals after a week. Took that opportunity to get all my funds off the website and not use the website again. They had it coming a long time.

edisystem

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Tbh hitbtc is already shaddy since a long time ago, that's why i never use hitbtc exchange again and i'm not surprised with this news.

I heard there are so many scam accusations on hitbtc exchange and if you withdrawal with a big amount, you will be hard to withdrawal.

b3llsf1l3s

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Even though in some ranking websites, HitBTC also occupies the above position, this is also actually confusing regarding the HitBTC policy which is like decentralized, all activities in it require fees, even deposits. of course this fee is even greater when compared to some better exchanges like Binance. for problems not being able to withdraw funds, it would be better if you contact the customer service department directly, and yes most people still has a lot of complaining about this exchange

BlackFor3st

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This is the common problems with any exchanges therefore it's not a good decision to leave your money in their hands as they can alternate their terms and conditions anytime.

Then they can just forfeit your money anytime if you cannot comply to their new rules, though KYC is not a big issue especially if you are willing to give your credentials to them but for those people who want to stay anonymous then it is a big problem for them. It's better that you need to be careful especially in storing your money, it's better that you hold it by yourselves rather than putting it in any exchanges to avoid this kind of problem in the future.

rdbase

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Quote from: Ipwich on May 20, 2019, 03:18:04 AM

Quote from: Ailmand on May 19, 2019, 12:12:28 PM

I think it is unfair since as what have been posted on the article the KYC requirement on their TOS was just recently added and old-users was not notified by those changes.

The thing happen to Bittrex, they allow sign ups before even without KYC and I have enjoyed that for a year I guess but then they change their policy but adding the KYC requirement, but for me, I see no problem since KYC has become a basic requirement already, so if we can comply, we should do.

I suggest those who cannot submit with the KYC and are enjoying trading now, should consider the risk in the future.

About my hitbtc account, my account is not KYC approved yet, but I am still using the exchange as normal, thanks for this heads up, I might start applying for KYC soon.

I recently received an email from them stating if I dont verify my account it will be automatically disabled and I wont be able to recover it even if there are funds in there. If I wanted to have an account with them I would need to reregister and start the verification process so to use their exchange.
I think poloniex customers received a similar email saying they need to have their accounts verified with kyc information as well. Dont quote me on this as I dont have an account with them.

Topic: HitBTC the next exchange to become insolvent customers not able to withdraw fund (Read 701 times)