Shell-Shocked HitBTC Users Shout ‘Fraud’ in Response to Severe KYC
By CCN: HitBTC users are being asked to provide excessive detail about the derivation of their funds, according to multiple sources. Even Bitcoin developer Luke-Jr was forced to undergo KYC in order to withdraw funds. The famous small-blocker reportedly had chosen the exchange for its perceived lack of know-your-customer compliance.
High-Profile Users Get Their Issues Resolved
⚠️🔥Looks like @hitbtc have decided to go full scammer, and are stealing balances of users (including me).🔥⚠️
Probably a good idea to get anything you have there off, and take care not to use it.
(And as always, keep as little on exchanges as possible!)
— Luke Dashjr (@LukeDashjr) March 28, 2019
They're locking accounts and making unreasonable demands for private information, which many people *can't* provide even if they wanted to. And when you don't/can't comply, they just keep your bitcoins instead of closing your account and sending them to you.
— Luke Dashjr (@LukeDashjr) March 28, 2019
Citing their ToS, they claim the user agreed to cooperate with the KYC when they signed up.
But the KYC nonsense wasn't in their ToS until recently, long after most people signed up. Indeed, many people probably signed up specifically because HitBTC had a reputation of no-KYC.
— Luke Dashjr (@LukeDashjr) March 28, 2019
And while every exchange does update their ToS from time to time, HitBTC's explicitly said they would notify customers of any changes. They did NOT give any notification of adding the KYC clauses.
— Luke Dashjr (@LukeDashjr) March 28, 2019
Update: Can confirm my withdrawl has been broadcast.https://t.co/HaIArONT1V
— Luke Dashjr (@LukeDashjr) March 29, 2019
HitBTC, Would You Like A Blood Sample Too?
One user reports that HitBTC has frozen around $12,000 with the following message, which came after he provided all the requested verification documents:
