HitBTC Dismisses Allegations It Froze Accounts in Reaction to Proof of Keys Function

Cryptocurrency trade HitBTC has turned down allegations by some of the industry’s most effective-identified figures that it was deliberately freezing person accounts, the corporation advised Cointelegraph in an e mail Jan. 3.

Responding to a request for comment, Peter Swen, a agent from the exchange’s internet marketing workforce, denied any link concerning account freezes and Thursday’s ongoing Proof of Keys function.

Just after consumer complaints on social media, Proof of Keys’ organizer Trace Mayer experienced publicly proposed that HitBTC may perhaps be intentionally disabling withdrawals in reaction to the party. He was subsequently joined by other folks in his suspicion, including John McAfee, wallet producer Bitfi and entrepreneur Tuur Demeester.

Mayer’s Proof of Keys party advocates a mass withdrawing of all money from exchanges and other centralized 3rd events today, Jan. 3. The celebration was reportedly established to boost dependable use of decentralized cryptocurrency by customers demonstrating their management of their individual private keys.

HitBTC has not unveiled a community response to the allegations, whilst Swen flatly refused to accept any url in between the withdrawal freezes and Evidence of Keys, which he described as a “flashmob.”

“These non permanent, basic safety-related withdrawal freezings are a immediate consequence of our worldwide KYC and AML steps. These procedures exist and utilize to us and everybody, 24 several hours a day, 365 days of the year,” he wrote in the email, incorporating:

“Therefore, we do not flip off any security equipment or checks, ever. Not on standard days, and not on specific days like gatherings and flashmobs this sort of as Proof of Important Working day (January 3rd).”

On Twitter, trade officers have been functioning to counter unease expressed by people following the suspicions ended up aired. In a single message Jan. 2, the trade hinted it would publish an official assertion soon.

HitBTC is at present the world’s 14th biggest crypto exchange by adjusted everyday trade volumes, seeing $208.9 million in trades in excess of the earlier 24 several hours to push time.


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