HitBTC, the world’s 14th largest crypto exchange, offering over 500 currencies in over 900 trading pairs, in a recent statement on Thursday, Jan. 3rd 2019, rejected all industry allegations that it deliberately froze user accounts.
Peter Swen, a representative from HitBTC’s marketing team, denied any link between account freezes and Thursday’s ongoing Proof of Keys event, which was aimed against centralized exchanges.
After many users complained, on social media, that they’re unable to withdraw their wallet funds, Proof of Keys’ organizer Trace Mayer, along with John McAfee, the manufacturer of Bitcoin wallet “Bitfi”, and entrepreneur Tuur Demeester, suggested that HitBTC may be deliberately disabling withdrawals in response to the event.
The Proof of Keys event is basically a withdrawal event. Here, activists are called to make withdrawals of all their cryptocurrency funds from crypto exchanges and other centralized trading platforms and physically store them in their own wallets. The event was created to promote responsible use of cryptocurrency, and basically is to reassert holder control over their crypto assets, it along the way also ensures that exchanges are actually in possession of as much funds as they claim.