Warning - Hitbtc KYC, possibly insolvent, 20 btc locked

[Throwacc]

Just letting everyone know that Hitbtc should be avoided till their support improves or they pull a gox. Made an account to move a a position into btc, did $5k to try it, it worked then did 20 btc worth after not seeing any threads warning and the no kyc and no limits. After trading and trying to withdraw the btc the tx got stuck, after 24h submitted a support ticket and all i got was wanting kyc. Seems others have been told the same lately and support delaying replies and wanting more kyc than any other exchange. Might have been hacked and doing this to get back funds.

[Throwacc]

Bump

[hitbtc]

Hello Throwacc,

We have a responsibility to protect our community from malicious activities, and we take that responsibility very seriously.

Our AML policy has been developed to meet the highest industry standards, and we enforce it with rigorous security mechanisms that detect suspicious activities and flag them for further investigation.

https://hitbtc.com/aml-policy

We're sorry if the response from support has been slower than you'd like. It's a delicate process that requires high security clearance, so can take some time to go through. The best way to pass the process quickly is to provide the information we ask you for as fully as you can.

In the meantime, please replay back with your ticket ID # and we'll see if there's any update to provide you with.

[stomachgrowls]

Just letting everyone know that Hitbtc should be avoided till their support improves or they pull a gox. Made an account to move a a position into btc, did $5k to try it, it worked then did 20 btc worth after not seeing any threads warning and the no kyc and no limits. After trading and trying to withdraw the btc the tx got stuck, after 24h submitted a support ticket and all i got was wanting kyc. Seems others have been told the same lately and support delaying replies and wanting more kyc than any other exchange. Might have been hacked and doing this to get back funds.

You just read up hitbtc representative above which i do see as a normal act for an exchange to do such verification.Even you do transfer into other exchange you would still face the same issue yet 20 btc isnt really a small amount which does it needs verification into a certain depositor or trader.For now you wont have any choice but to comply with KYC if you dont hide something i dont think this would be a big issue.

[mobnepal]

20BTC is really big amount and I don't know any other trading platform that will allow you to trade those big amount without any manual verification or KYC. But I have to admit, I only came to know that hitbtc also has KYC after reading this. I am also using them for quite smaller amount (<$10k) without verification but I will now onwards try to omit using them with larger amount.

We all know every business that deals with financial instrument need to have KYC in place but for exchange which only deals with crypto, I don't think its quite mandatory.

I will never trust any exchange with those big amount, its better to diversify your risk in multiple exchanges or trade in batch.

Hope you will get your BTC back after successful account verification and without further drama.

[luixifer]

Hello HITBTC.
My problem is that i want to transfer my coins from the main account to the traiding account and viceversa, but every time i tried it, it says "Currency operations not available". This thing happens absolutly with all different coins that i have in my account. I also tried to withdraw some of my coins, but once i click to the confirmation withdrawal mail, it sends me to my account again but the coins never moved at all.The one thing that i can do is to buy and sell coins, but can not move them from the trading account. I've tried many times and there is allways the same problem.
I tried to contact with support many times for more than 4 months, support center did answer like two months ago telling me to wait because it was going to be solved soon, but i never got a solution. in the last two months i haven't got any answer at all. i also got a message from hitbtc support asking me to rate the support i was receiving, i did answer writting that i was very unhappy, that was on april 7th, since that message i haven´t got any answer. i need an answer and a solution soon. thank you.
ticket #263756. this one is the one asking me to rate support team.
Ticket ID #273878.

[pornluver]

Hello Throwacc,

We have a responsibility to protect our community from malicious activities, and we take that responsibility very seriously.

Our AML policy has been developed to meet the highest industry standards, and we enforce it with rigorous security mechanisms that detect suspicious activities and flag them for further investigation.

https://hitbtc.com/aml-policy

We're sorry if the response from support has been slower than you'd like. It's a delicate process that requires high security clearance, so can take some time to go through. The best way to pass the process quickly is to provide the information we ask you for as fully as you can.

In the meantime, please replay back with your ticket ID # and we'll see if there's any update to provide you with.

Has this problem been solved? Also your website is down. I am a bit worry

[Mahanton]

Hello Throwacc,

We have a responsibility to protect our community from malicious activities, and we take that responsibility very seriously.

Our AML policy has been developed to meet the highest industry standards, and we enforce it with rigorous security mechanisms that detect suspicious activities and flag them for further investigation.

https://hitbtc.com/aml-policy

We're sorry if the response from support has been slower than you'd like. It's a delicate process that requires high security clearance, so can take some time to go through. The best way to pass the process quickly is to provide the information we ask you for as fully as you can.

In the meantime, please replay back with your ticket ID # and we'll see if there's any update to provide you with.

Has this problem been solved? Also your website is down. I am a bit worry

Asking the same thing where OP didnt make any updates after stating his problem or issue towards hitbtc.I dont see any problems because most exchange would really demand KYC when we are depositing large amounts and for you as a depositor or user then you dont have any choice but to follow on what they said.We might not able to see any warnings but its quite common that exchangers nowadays is gradually required to have that kind of restriction.

By the way hitbtc site is fully working or operational.

[magneto]

Just letting everyone know that Hitbtc should be avoided till their support improves or they pull a gox. Made an account to move a a position into btc, did $5k to try it, it worked then did 20 btc worth after not seeing any threads warning and the no kyc and no limits. After trading and trying to withdraw the btc the tx got stuck, after 24h submitted a support ticket and all i got was wanting kyc. Seems others have been told the same lately and support delaying replies and wanting more kyc than any other exchange. Might have been hacked and doing this to get back funds.

It's definitely not just you. Recently, a lot of withdrawals have been held up this way.

While HitBTC claims that it is simply for the protection of the community, I don't think this is necessarily an ethical thing to do at all. There were no warnings on the site when you deposit that you would be subject to limits without KYC, let alone the level of KYC that they require which essentially means that you have to hand over all the sources of your funds, and every certificate and document possible. It's outrageous, their support is slow, and it's concerning as a user.

And it also comes without any warning, this stuff only happens wehn you withdraw, never before you deposit. That is shady.

I would avoid them, just to be clear. There are no clear advantages of using them and a ton of risks.

[Aerys2]

Same here, HitBTC stole 2 BTC from me.