Topic: Scam called ''INACTIVITY FEES'' - HitBTC (Read 317 times)

Before registering on an exchange you must read the regulation carefully and in full. If they inserted this clause after registration they had to communicate it promptly and make sure that all users are aware of it before its application, however if the altcoins you are interested in are present even on other exchanges simply stop using it and close the account

I second that.

Yesterday I experienced the same problems. No more moving coins to my wallet and the “inactivity fee”.
Currently my 133k dogecoin are locked, and 4k of inactivity fee are gone.

I joined the exchange in 2017 and have been doing some trading there, moving btc in and out, all went well at the time.
The last 3 years I’ve been holding my Doge at HitBtc.

I never received an email about their new inactivity and fee mechanism.
Neither about my doge being stuck.


 Unable to move my coins to a personal wallet.


Yesterdays 1 doge value in btc was : 0.0000029BTC
The rate offered : 0.00000017986 btc

I have not received any notification in this regard, and no one in my situation has. And yet, it is not normal to seize a man's property at will.
Regarding the accepted terms and conditions, I repeat, when I agreed and accepted, these abusive clauses, called inactivity fees, were not introduced, but were introduced later, without being announced in any way.

if the deposit and withdrawal are still open when you can't withdraw the exchanger is wrong. but if the coin is delisted and you have been given a long time to withdraw but you don't do it. and the market has been closed for a long time and then you can't withdraw anymore. the fault is not the exchanger but yourself.
and from your writing the exchanger has given an announcement that withdrawals are served until October 2023 and it is your fault for not withdrawing.

With all the fact given, it's obvious you are wrong about them stealing you money. At least you should have taken your time to read their terms of use and conditions, that would have saved you the stress of using such exchange. However next time I recommend you read carefully and understand their terms before agreeing to them. On the other hand, exchange are not good place for us to store our coins and this is enough reason to back my point. They are working on platform and paying their bills from the little commissions they get from things like this and others. So keeping your coins in a non custodial wallet is the best for long term holding.

Thank you for your support.
Besides the fact that they charged me abusively, they don't even allow me to withdraw my coins.
I think that by publicly exposing and making the truth come out about their theft techniques, it is possible to achieve something. Together.

Sorry to know the ordeal you have been through but try reaching out to their support channels if that can help but we cannot expect much positive from this exchange as I have too many complaints in regards to this exchange.

But you will not be able to prove them wrong because these sort of details will be mentioned somewhere in the lengthy terms and conditions which you agree which signing up for it.

And yet what can we do legally in this situation?
There are many others like me...

Thank you for your answer and support.
I contacted them from my personal email, from which I created the hit btc account, and they answered me the following:


Dear Trader,

Thank you for your reply.

I am sorry to tell you that additional time is needed to research your case. I have escalated your request to our team, and we are already looking into this for you.
​
We will get back to you as soon as possible. Thank you for your patience!
--
Best regards,
Diana Vargas
HitBTC Support Team

I have seen so many SCAM accusation about HitBTC for the last a few year, they stolen funds for many users, so why you still using this worst exchange, i think they have rules to charges fees for inactive account, So you should read their rules before opening an account here. Whatever you can contact in their support but i think they will never refund it as they're SCAM.

This is really bad and it's the reason why new investors that comes into the crypto market and stumbles on these scam exchanges and projects will label the entire crypto space as scam. I wonder why scam exchanges like Hitbtc, are still in business after it's been proven over the years that they're not a reputable exchange, your experience and the OP present predicament says a lot about them. I hope he gets justice and recover his coins.

The lesson here is that we need to verify the reputation of exchanges before using their services, and research new projects before deciding to invest in any, because frankly it's not everybody that has the patience to read every details of terms and conditions.

I guess even if they don't do that charging due to inactivity I still doubt that you can get your funds stuck their since Hitbtc is a shady exchange and I believe that they are already done offering their exchange then the only thing they wait is for people to come on their exchange and scam them.

Best to move on since hunting then and ask for payment since somehow its not really worth on the attention yoy spend on then since they are scam and might doesn't gave plan to pay those people who trust this fund on their organization.

You already have a thread that is similar to this thread on the scam section

SCAMMED by HitBTC

So I recommend that you close this thread and update us of any development on the thread you created in the scam section.

On the time that you have an account and trading here on HitBtc did you made dilligent research on the status of HitBTC, there's a lot of scam reports and there are scam reports way back 2017 that until now were not resolve and the HitBtc owners don't care to resolved.

If you Google HitBtc you will see a lot of platforms like Reddit and Quora discussing HitBtc manipulative behavior to scam their users.

I don't think they will address your issue as they are not responsive to complaints, but its good that you posted your bad experience here, this will become a reference on their behavior and status. 

Have you checked if they're available for trading? if so, trade them with a working coin and get out off hitbtc.

edit: or did you mean withdrawals for every coin is blocked?

Inactivity fees? This is the first time I heard of this being implemented on an exchange, but if it's on their TOS, I guess you agreed with it since you created an account without reading their TOS, and just clicked on that small box at the bottom. Their exchange, their rules. TBH, I didn't expect that this exchange would still be operating despite its popularity going down for years already because of new exchanges getting that limelight.

As for your "stolen" funds, you said that you can't withdraw them right? You have the chance to exchange it into a coin that you can withdraw on their exchange, but choose to hold that token that you can't even withdraw (possible shitcoin). Maybe your inactivity is the reason why you didn't exchange that token into another coin, but in the end, it's your fault because you know that you have tokens on that exchange and yet, you choose to be inactive.

"You paid them," you said. Paid what? You only deposit your coins to them, and basically, you can withdraw them anytime they want. Paying = giving money to them, and not getting it back.
With regards to help, nobody can help you here because only the exchange owners are the ones that will help you. Don't have high hopes TBH, because there's a chance that they will not give it back to you. Sad truth, but that's the reality.

considering what other have mentioned they have written such term and conditions so therefore they are just following the previously agreed term and conditions accordingly but in your case you can't withdraw because they disabled withdrawal, if i remember correctly usually any normal exchange will give time windows when they are disabling withdrawal (excluding sudden maintenances which eventually gonna be enabled again) until people can't withdraw anymore. im no expert at law here though, you can try directly just contact their service.
this is also good example why its never a good idea dealing with these kind of exchange, really if anyone out there want to use the service of an exchange find the most legit ones.
we are talking about real money here.
try to contact them directly with your account or at least same email to withdraw your coin, try your luck there.

I did not believe when I read your story that there are still people using this platform, and that the platform is still active at all. Hitbtc was one of the most famous platforms and was known for its suspicious activities without any interest from its management in establishing a good reputation. I remember once reading that they could list any new currency for a fee for a certain period without verifying the integrity conditions of its project, meaning that Hitbtc was benefiting from scammers' help in listing worthless currencies.
I am sorry to inform you that your chances of recovering your savings are very weak because no one has the authority to influence Hitbtc if support stops communicating with you. You should have done your research before choosing where to put your savings.

That's sad but you have to check every update where you are depositing your coins. This is the reason why it's always said that "not your keys, not your coins". With that, they can charge and suck your coins until you ran out of zero. And that's the reason why many just pull out their funds on these exchanges when they don't even have plans of visiting it once in a while. That inactivity fee is part of their rules and you can't do anything with that and as for that withdrawals that are blocked for that coin, contact and ask them to allow you to withdraw the remaining amount that you have there.

The problem is that even now I can not withdraw what I have left because the withdrawals are blocked.

I'm shocked that there are people that still use exchanges like HitBTC when much better alternatives are available. I was a HITBTC user in the early days because they used to some of the good ones. Then they fell off hard. HitBTC is in the same category of exchanges like cryptopia (we all know how that one turned out).


I can assure you, as long as that condition was in their terms of service and you confirmed your agreement at registration, you are never getting the money back. My advice is withdraw your funds from them and stop using it indefinitely.