HitBTC is using ridiculous KYC/AML process to selectively scam people out of their money!

Everything is fine until you decide to withdraw. That's when they decide it's time for KYC. And note that we are talking crypto to crypto only, no fiat involved!

  • The first ask about just ID and proof of address which is fine.
  • Then they ask for documents to prove your income and how you obtained the bitcoin.
  • Then they ask to paste them the hashes of previous transactions, something they can easily see themselves, it's a public blockchain.
  • Then they ask for screenshots from balances on other exchange you might have.
  • Then they go for facebook, gmail (what does one do if they don't use gmail or social media?), skype….
  • and god knows what else.
  • It's been 3 months now and at this point it seems like they are just figuring out random stuff to stall the process and make people just give up.

They take their time between replies and often ask for the same stuff twice. At one point they just started ignoring my questions about the validity of their action and kept pasting the same response again and again. Gives quite a confidence doesn't it?

If you look at their subreddit, it's full with cases like this:


Oddly enough, they seem to be incorporated in Hong Kong but based in Chille.

Also there is no info (at least I couldn't find) about their CEO and team on the site.

Overal information about their operation is scarce at best.

This exchange has been around for several years now and is considered to be one with significant volume. They way they operate now looks like the end isn't too far away. Please be careaful.

Publicity and legal actions are my only hope at this point.

submitted by /u/SatoshiBrother
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Bitcoin – The Currency of the Internet

Ridiculous The Atlantic article asks if It’s unjust that most of Bitcoin’s investors are men (reddit.com)

https://www.theatlantic.com/amp/article/556190/ From the article: “Will it be unjust if there is a significant gender imbalance in investor losses or gains?” Why is the article even asking this question? The answer is NO. Whomever takes the risk should take the gain or loss. So what if men take more risks than women? That is their CHOICE. Why do gender politics need to be injected into everything? If women want to invest they have…


This whole “omg the transaction fees r so high, bitcoin is dying” thing is getting ridiculous. As a small business owner, I am charged 3% per credit card transaction and I am ALSO at risk for charge backs.

Crypto currency and bitcoin specifically is a game changer though we still are in the early phases of adoption. Transaction fees really aren't that much, especially when the transaction queue's aren't kept artificially high. As more people start to use bitcoin, this will stabilize.

Regardless though, I am just trying to show perspective. When you say that bitcoin transaction fees are too much, consider what merchants have to pay for credit card fees and the potential loss from chargebacks. And let's also think about cash usage. Just because a business accepts cash doesn't mean that they don't also incur additional costs such as armored trucks, security systems, etc that they need to use as a precautionary measure for security.

Bitcoin would alleviate so many of those costs and give businesses more security over time. As Bitcoin continues to evolve such as Lightning we can expect to see faster and cheaper transaction times.

Don't buy in to that Bitcoin is a terrible currency. As a matter of fact, it is a brilliant one and as time goes on, it will become more efficient and resilient.

submitted by /u/NosillaWilla
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