Recent studies cast doubt on the solvency HitBTC

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A recent in-depth study cryptocell HitBTC showed that the crypto currency exchange may in fact be insolvent and the suspicions of many users have a basis. For the latest information on HitBTC was awash with rumours about fraud withdrawal, suspicion insolvency, after users reported difficulties when cryptocurrency from the exchange, motivated by the strengthening of KYC and AML procedures and long delays of answers support.

Recently, the company Cointelligence presented their findings on the status of HitBTC, conducting its own investigation and comparing some statistics with other leading bitcoin exchanges. One of the key findings from their research report is the fact that HitBTC has only about $3 million in BTC and ETH in their wallets.

Data analytical studies are alarming

The study compares the number of BTC and ETH stored in the purse of the various exchanges with daily trading volume.

The most notable problem is striking is the trading volume, which is very similar to fake. Compared to some other leading exchanges such as Kraken, which has 413 times more BTC, and 585 times more ETH, but the trading volume is much smaller than the HitBTC.

The report also noted an extremely high fee for withdrawing funds and lack of information about who actually runs the company. Anonymous team is another red flag, which is alarming users as the exchange may just disappear without any consequences for the organizers together with the customer funds.

Users should think carefully before trusting exchange that hides who manages it and also has on the accounts of just over $3 million.

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Tags: HitBTC

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