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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