Well-known Exchange Gets Blasted Online
HitBTC a prominent and established exchange has slowly been ruining its reputation and good name. Customer complaints regarding atrocious customer support, missing funds, and bizarre KYC practices upon requesting withdrawals have been mounting. In addition to all the complaints, it appears that HitBTC have closed their Reddit page.
This has caused some to wonder whether HitBTC was possibly insolvent. A few well known figures in the world of cryptocurrencies in the past have warned users about HitBTC. This includes CoinBene and the notorious John McAfee who have partnered against HitBTC. McAfee did not mince words when tweeting about the exchange in the past. As per one of the Tweets:
" .@hitbtc I will be your worst enemy until you prove that you are aligned with our community and are truly interested in helping the poor. You have not done shit to help access the only free healthcare in the world.
10:36 PM - 28 Jun 2018"
It Gets Worse
Even a few crypto projects have voiced complaints against HitBTC. The best known case was Bitcoin Private, who claimed that their delisting from HitBTC was fraudulent.
So far, many recent tweets on twitter containing the hashtag #HitBTC is also followed by #scam.
Despite this, trading is continuing as usual. The reported trading volume remains high and it is ranked #18, just below Huobi & IDAX.
It is impossible for us to know if HitBTC has severe liquidity issues or financial problems, as records are not public. The team behind the exchange also appears to remain mysterious and anonymous. Considering everything, traders might want to prefer a different exchange.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado