Users in social networks crypto currency exchange accused of fraud, because it holds no apparent reason their funds, despite the evidence ID.
HitBTC, around which in recent times and so does not stop a lot of controversy, is once again under fire because users are on a Redditor to say that the exchange is holding their money hostage, despite the presence of presented documents, necessary for verification of KYC and AML.
How justified are the demands?
According to the user posted a complaint on Reddit, under the name Allomancer_Jak, currently crypto currency exchange holds the funds hostage, although he sent a confirmation of their identity by sending a photo of your passport by e-mail to the security service HitBTC.
When that was not enough for the exchange, he sent proof of his place of residence and Bank statement, but to no avail.
In its most recent requirements, the exchange asks the user to enter a platform without using a virtual private network (VPN), which allows him to fix where he is and provide information on the origin of the deposited funds.
HitBTC message sent to the user reads:
“For your convenience, a report on the origin of funds can be presented in a free form as a chain of events in chronological order, step by step, confirmed using screenshots and other data services cryptographic infrastructure that we would need to contact them to check.”
Moreover, HitBTC added that the user needs to send links to your accounts on social networks, presumably to ensure that he has an online presence. Moreover, these claims appeared after a user sent Coinbase transaction record confirming that he had purchased their BTC for Fiat currency on the platform. Tracking of the path of movement of funds on the blockchain can be extremely difficult or almost impossible.
Vigilance bordering on fraud
As noted by various users commenting on the Reddit message, any one of them could be in place Allomancer_Jak because HitBTC and some other similar exchange very often cheat with the user accounts, selecting targets for their scams and legitimate under the guise of the observance of regulatory rules.
Such complaints on the action of the exchange in social networks a lot, which could mean that the exchange really is something illegal going on.
Eccentric systems developer of cyber security John McAfee even started a campaign against cryptobiina at the beginning of this year.
Though his crusade against the exchange was motivated by slightly different reasons. Expert on cyber security has accused HitBTC in that they are responsible for “the death of many people” as the platform refused to support the project Docademic (MTC), which, according to Macap, provides users with free medical services.
HitBTC has recently banned Japanese users to register on their platform, since this year plans to launch its licensed subsidiary in the country.
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