Here's what happened:

(1) AMM holders sent AMM to HitBTC to sell.
(2) An error in the HitBTC system created millions of counterfeit "fake" AMM tokens that were injected into the market.
(3) Market was flooded with millions of fake AMM tokens.
(4) HitBTC accused those who unknowingly bought their fake counterfeit tokens of fraud, even though they left the counterfeit token market open for a full day collecting transaction fees.

HitBTC made millions of counterfeit AMM tokens, they collected transaction fees on these illegal trades, and left the illegal market open for hours after they knew the tokens were fake.

HitBTC. Refund. Now.

Details:

Many of us had been following Micromoney (AMM) for a long time, waiting to buy after it got listed on an exchange. HitBTC was the first larger exchange to list AMM. Just after it was listed, the price plummeted, and nobody could explain why. Many of us were frantically buying/selling, not knowing what was happening.

After a few hours the price was almost zero, and it was obvious something was wrong with the code. Several users alerted HitBTC through support tickets and the chatbox. But HitBTC said nothing, and AMM trading was left open for several more hours. The Micromoney team informed us that they had been trying to contact HitBTC directly by phone, but nobody was answering, and there was no official response or communication from HitBTC. Trading was left open, despite numerous warnings from MicroMoney and customers that something was wrong.

After some time HitBTC issued a statement saying that there was a mistake and that all cases would be resolved personally. But today, HitBTC sent out an email saying:

"Due to the malfunction caused by fraud all trades are deemed illegitimate. As you committed trades and supported the fraudulent course of events, the amount of AMM bought will be written of from your account and no refunds are to be made."

So HitBTC is blaming the fraudulent trades on their customers, the same customers that tried for many hours to warn them something was wrong, and that they should stop AMM trading ASAP. But they didn't stop the trading, despite all attempts to warn them something was wrong.

And now they are blaming us, the customers, and our money has been withdrawn from our wallets.

HitBTC left AMM trading open for nearly a day after Micromoney and hundreds of users were complaining that something was wrong.

We, the traders and customers they accuse of fraud, told them their site was broken. And they did nothing.

Now they are blaming us and taking our money.

Fraud.